Secured Retirement Advisors LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 57.4% in the first quarter, Holdings Channel reports. The institutional investor owned 1,614 shares of the social networking company’s stock after selling 2,172 shares during the period. Secured Retirement Advisors LLC’s holdings in Meta Platforms were worth $924,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in META. RHL Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $28,000. Strategic Wealth Advisors LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $29,000. Niles Investment Management LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $29,000. Bayban raised its position in Meta Platforms by 100.0% during the 1st quarter. Bayban now owns 70 shares of the social networking company’s stock worth $40,000 after purchasing an additional 35 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the 4th quarter worth $42,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on META shares. Citizens Jmp reiterated a “market outperform” rating and issued a $900.00 price target on shares of Meta Platforms in a research report on Tuesday, April 21st. Guggenheim cut their price objective on Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Tigress Financial upped their target price on Meta Platforms from $935.00 to $945.00 and gave the company a “strong-buy” rating in a report on Wednesday, March 18th. Cantor Fitzgerald reduced their target price on Meta Platforms from $850.00 to $750.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, UBS Group downgraded shares of Meta Platforms from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $840.64.
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 News Summary
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta is being viewed more favorably by some analysts because its AI-powered ads are reportedly improving advertiser returns, which supports revenue growth and suggests its AI spending is starting to pay off. Meta’s Capex Is Paying Off, But The Market Doesn’t Care
- Positive Sentiment: Reports that Meta may rent out excess GPU capacity and build a cloud-computing business are boosting sentiment, since investors see a potential new monetization avenue beyond digital advertising. Meta’s push into cloud computing means Wall Street has to prepare for lower margins
- Positive Sentiment: Meta’s broader AI strategy is also getting support from bullish coverage that argues the company is chasing a huge enterprise AI-compute opportunity and could eventually re-rate higher if execution improves. Senior Analyst: Meta Is Chasing A $2 Trillion AI Compute Opportunity, But It’s Years Behind
- Neutral Sentiment: Meta remains a highly followed stock, with traders and analysts continuing to debate whether its AI investment cycle will translate into sustainable earnings growth or just higher spending. Meta Platforms, Inc. (META) Is a Trending Stock: Facts to Know Before Betting on It
- Negative Sentiment: Zuckerberg also acknowledged that Meta’s AI agents are progressing slower than expected, which reinforces investor concerns that some of the company’s ambitious AI initiatives may take longer to monetize. Zuckerberg says AI agent development going slower than expected
- Negative Sentiment: India reportedly asked Meta to delay its WhatsApp username rollout over fraud concerns, creating a potential regulatory hurdle for one of Meta’s most important messaging growth initiatives. India asks Meta to hold WhatsApp username rollout over fraud fears
Meta Platforms Trading Down 0.0%
Shares of META stock opened at $582.88 on Monday. The company has a market cap of $1.47 trillion, a P/E ratio of 21.19, a PEG ratio of 1.03 and a beta of 1.25. The stock has a 50 day simple moving average of $602.79 and a two-hundred day simple moving average of $628.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion for 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 company’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the prior year, the business earned $6.43 EPS. Research analysts forecast that Meta Platforms, Inc. will post 29.46 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 0.4%. Meta Platforms’s dividend payout ratio is currently 7.63%.
Meta Platforms Company Profile
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.
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