10,795 Meta Platforms, Inc. $META Shares Bought by Ethic Inc.

Key Points

• Ethic Inc. increased its Meta stake by 6.4%, buying 10,795 shares in the third quarter to reach 180,043 shares, valued at about $130.6 million.
• Other major institutional investors also added shares, and hedge funds and institutions collectively own 79.91% of Meta stock.
• Meta reported quarterly revenue growth of 26.1% and earnings above analyst expectations; analysts’ consensus rating is “Moderate Buy,” with an average price target of $833.12.

Ethic Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,043 shares of the social networking company's stock after acquiring an additional 10,795 shares during the period. Meta Platforms makes up approximately 1.4% of Ethic Inc.'s portfolio, making the stock its 10th largest position. Ethic Inc.'s holdings in Meta Platforms were worth $130,564,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Meta Platforms by 4.0% in the 2nd quarter. State Street Corp now owns 92,033,963 shares of the social networking company's stock worth $51,841,811,000 after purchasing an additional 3,510,123 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Meta Platforms by 14.6% in the first 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 purchasing an additional 2,673,494 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Meta Platforms by 1.3% during the second 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 valued at $7,230,426,000 after purchasing an additional 162,909 shares in the last quarter. Amundi lifted its holdings in shares of Meta Platforms by 18.1% during the first quarter. Amundi now owns 11,858,972 shares of the social networking company's stock valued at $6,784,873,000 after purchasing an additional 1,815,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Meta Platforms by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 10,429,812 shares of the social networking company's stock valued at $5,964,745,000 after purchasing an additional 404,948 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 946 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $631.03, for a total transaction of $596,954.38. Following the completion of the sale, the chief operating officer directly owned 3,148 shares in the company, valued at approximately $1,986,482.44. The trade was a 23.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 150,973 shares of company stock worth $103,128,307 in the last three months. Insiders own 13.42% of the company's stock.

Key Headlines Impacting Meta Platforms

Investors following META have been watching these headlines:

• Positive Sentiment: JPMorgan named Meta its preferred internet stock, citing AI-enhanced advertising and the potential for Family of Apps ad revenue to compare favorably with Google Search. Meta Platforms Wins JPMorgan Backing
• Neutral Sentiment: COO Javier Olivan reported stock sales under a pre-arranged Rule 10b5-1 plan. Such planned sales are not necessarily a signal about the company’s outlook, but may still draw investor attention. SEC ownership filing
• Negative Sentiment: Meta’s $27 billion off-balance-sheet AI data-center financing drew criticism from investor Steve Eisman, who compared it to Enron; another investor disputed the comparison. The debate could heighten scrutiny of the scale and transparency of Meta’s AI spending. Meta’s $27B Off-Balance-Sheet AI Deal

Meta Platforms Trading Down 0.8%

Shares of NASDAQ:META opened at $623.61 on Friday. The stock has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.09 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90. The stock's 50-day simple moving average is $679.23 and its two-hundred day simple moving average is $631.88. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $779.82.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, beating the consensus estimate of $6.54 by $0.86. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The firm had revenue of $64.60 billion during the quarter, compared to analyst estimates of $63.34 billion. During the same quarter in the prior year, the firm earned $7.25 EPS. The business's revenue for the quarter was up 26.1% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 21st were issued a $0.5250 dividend. 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 (DPR) is presently 7.16%.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. Wedbush lifted their price objective on Meta Platforms from $700.00 to $730.00 and gave the stock a "neutral" rating in a report on Thursday, October 22nd. DZ Bank restated a "buy" rating on shares of Meta Platforms in a research note on Thursday, July 30th. Weiss Ratings raised shares of Meta Platforms from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Benchmark reiterated a "hold" rating on shares of Meta Platforms in a research note on Thursday, August 27th. Finally, Truist Financial lifted their price target on shares of Meta Platforms from $763.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Tuesday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $833.12.

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.

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