Braun Stacey Associates Inc. Has $60.80 Million Holdings in Meta Platforms, Inc. $META

Braun Stacey Associates Inc. decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,264 shares of the social networking company’s stock after selling 3,505 shares during the period. Meta Platforms makes up about 2.0% of Braun Stacey Associates Inc.’s investment portfolio, making the stock its 9th largest holding. Braun Stacey Associates Inc.’s holdings in Meta Platforms were worth $60,797,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its stake in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after acquiring an additional 875 shares during the period. Headwater Capital Co Ltd boosted its position in Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after purchasing an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in Meta Platforms in the 2nd quarter valued at about $213,000. Finally, Capital & Planning LLC acquired a new position in shares of Meta Platforms in the second quarter valued at approximately $322,000. 79.91% of the stock is currently owned by institutional investors.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

  • Positive Sentiment: Reports that Meta is developing a cloud business to sell excess AI computing capacity and AI model access lifted the stock, since it could turn prior AI spending into near-term revenue and reduce reliance on ads.
  • Positive Sentiment: Wall Street reaction has been broadly constructive, with traders rotating into Meta while some AI infrastructure rivals sold off on fears of new competition from a company with major scale and cash flow.
  • Neutral Sentiment: Meta also named Alex Schultz as its first chief data officer and promoted Denise Moreno to chief marketing officer, a management change aimed at improving data-driven decision-making in the AI era.
  • Neutral Sentiment: Unusually heavy call-option activity showed traders positioning for more upside, reinforcing the market’s bullish tone but not changing the fundamental story by itself.
  • Negative Sentiment: Separately, Meta lost a bid to dismiss a multistate lawsuit alleging Facebook and Instagram are addictive to children, keeping a legal overhang in place.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Arete Research set a $735.00 price target on shares of Meta Platforms and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Benchmark assumed coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They set a “buy” rating on the stock. Guggenheim decreased their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. KeyCorp reissued an “overweight” rating and set a $760.00 target price on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, Tigress Financial upped their price target on shares of Meta Platforms from $935.00 to $945.00 and gave the stock a “strong-buy” rating in a report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $840.60.

Check Out Our Latest Research Report on Meta Platforms

Meta Platforms Price Performance

META stock opened at $612.91 on Thursday. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $606.34 and its 200 day simple moving average is $628.95. The firm has a market cap of $1.55 trillion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.00 and a beta of 1.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm’s revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the firm posted $6.43 earnings per share. On average, analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 7.63%.

Insiders Place Their Bets

In other Meta Platforms news, Director Robert M. Kimmitt sold 504 shares of Meta Platforms stock in a transaction on Monday, June 1st. The shares were sold at an average price of $629.29, for a total value of $317,162.16. Following the completion of the sale, the director directly owned 3,943 shares of the company’s stock, valued at approximately $2,481,290.47. The trade was a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the transaction, the insider owned 1,118 shares in the company, valued at $681,890.56. This represents a 65.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 39,013 shares of company stock worth $24,115,999. 13.53% of the stock is currently owned by company insiders.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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