Northeast Investment Management lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,177 shares of the social networking company’s stock after selling 1,753 shares during the quarter. Meta Platforms comprises 2.8% of Northeast Investment Management’s portfolio, making the stock its 9th biggest holding. Northeast Investment Management’s holdings in Meta Platforms were worth $76,997,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Meta Platforms by 4.0% during the second quarter. State Street Corp now owns 92,033,963 shares of the social networking company’s stock valued at $51,841,811,000 after purchasing an additional 3,510,123 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Meta Platforms by 14.6% in the 1st quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company’s stock worth $12,036,491,000 after buying an additional 2,673,494 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Meta Platforms by 1.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,836,063 shares of the social networking company’s stock worth $7,230,426,000 after buying an additional 162,909 shares during the last quarter. Amundi increased its holdings in shares of Meta Platforms by 18.1% in the 1st quarter. Amundi now owns 11,858,972 shares of the social networking company’s stock worth $6,784,873,000 after buying an additional 1,815,017 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Meta Platforms by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,429,812 shares of the social networking company’s stock worth $5,964,745,000 after buying an additional 404,948 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. TD Cowen dropped their price target on Meta Platforms from $865.00 to $850.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. The Goldman Sachs Group restated a “buy” rating and set a $885.00 price objective on shares of Meta Platforms in a research report on Thursday, October 22nd. KeyCorp raised their price objective on Meta Platforms from $900.00 to $905.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. DA Davidson lifted their target price on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Finally, Jefferies Financial Group lifted their target price on Meta Platforms from $710.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $833.12.
View Our Latest Report on Meta Platforms
Meta Platforms Trading Up 5.1%
Shares of META opened at $641.37 on Tuesday. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $779.82. The company has a 50-day moving average of $676.23 and a 200 day moving average of $632.30. The firm has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.09 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.90 and a quick ratio of 1.90.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.86. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The business had revenue of $64.60 billion for the quarter, compared to the consensus estimate of $63.34 billion. During the same period in the prior year, the firm earned $7.25 EPS. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. On average, research analysts expect that Meta Platforms, Inc. will post 29.01 EPS for the current year.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were given a dividend of $0.5250 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is presently 7.16%.
Insider Buying and Selling at Meta Platforms
In other news, insider Christopher K. Cox sold 40,000 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $712.76, for a total value of $28,510,400.00. Following the completion of the sale, the insider owned 184,516 shares in the company, valued at approximately $131,515,624.16. The trade was a 17.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Aaron Anderson sold 3,240 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $618.06, for a total transaction of $2,002,514.40. Following the transaction, the chief accounting officer owned 6,271 shares in the company, valued at approximately $3,875,854.26. This represents a 34.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 149,398 shares of company stock worth $102,134,435. Insiders own 13.42% of the company’s stock.
More Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: JPMorgan added Meta to its Analyst Focus List as a preferred internet stock, citing the strength of AI-powered advertising and potential new monetization opportunities. The endorsement helped lift shares. Article: Meta stock surges over 5% today: here’s why
- Positive Sentiment: Meta released Muse Ember, a lightweight, cost-efficient AI model built for agent tasks such as coding and document processing. Investors may see it as a step toward expanding AI capabilities efficiently. Article: Meta releases Muse Ember
- Neutral Sentiment: Meta is expanding AI age-estimation technology globally on Instagram to identify teen users and apply Teen Account protections. The rollout could help address safety concerns, but comes amid multiple lawsuits alleging harm to teens. Article: Meta expands Instagram’s AI age-guessing tech globally
- Negative Sentiment: Investor concerns remain about the scale of Meta’s AI investment: a recent analysis noted that free cash flow turned negative last quarter. Heavy spending could weigh on returns if AI monetization does not keep pace. Article: Meta Platforms Stock: Is it a Steal of a Deal at $650?
About Meta Platforms
Meta Platforms, Inc is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world.
The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.
Founded in 2004 as Facebook by Mark Zuckerberg and fellow students, the company changed its name to Meta Platforms in 2021 to reflect its broader focus on building social technologies and immersive digital experiences.
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