965 Meta Platforms, Inc. $META Shares Acquired by Pinion Investment Advisors LLC

Key Points

• Pinion Investment Advisors increased its Meta stake by 24.6% in the third quarter, buying 965 shares to hold 4,881 shares valued at $3.54 million. Institutional investors collectively own about 79.9% of Meta’s stock.
• Meta reported quarterly earnings of $7.40 per share, beating the $6.54 consensus estimate, while revenue of $64.60 billion also topped expectations and grew 26.1% year over year.
• COO Javier Olivan sold 946 shares under a pre-arranged Rule 10b5-1 plan; insiders sold about $101.7 million of shares over the prior 90 days. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $833.12.

Pinion Investment Advisors LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,881 shares of the social networking company's stock after buying an additional 965 shares during the period. Pinion Investment Advisors LLC's holdings in Meta Platforms were worth $3,539,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its stake in shares of Meta Platforms by 4.0% in 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 acquiring an additional 3,510,123 shares during the period. Bank of America Corp DE lifted its holdings 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 acquiring 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% 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 acquiring an additional 162,909 shares during the last quarter. Amundi boosted its stake in shares of Meta Platforms by 18.1% during the 1st quarter. Amundi now owns 11,858,972 shares of the social networking company's stock worth $6,784,873,000 after purchasing an additional 1,815,017 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Meta Platforms by 4.0% during 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 purchasing an additional 404,948 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Javier Olivan sold 946 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $631.03, for a total value of $596,954.38. Following the transaction, the chief operating officer owned 3,148 shares of the company's stock, valued at $1,986,482.44. This represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 148,846 shares of company stock valued at $101,660,996 in the last ninety days. 13.42% of the stock is currently owned by insiders.

Meta Platforms Trading Up 2.9%

META stock traded up $18.08 during trading on Friday, hitting $641.69. The company had a trading volume of 15,115,862 shares, compared to its average volume of 24,035,764. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $779.82. The company has a 50 day simple moving average of $679.85 and a 200-day simple moving average of $631.72. The firm has a market capitalization of $1.64 trillion, a P/E ratio of 21.88, a PEG ratio of 1.08 and a beta of 1.28. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.30.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.86. The company had revenue of $64.60 billion during the quarter, compared to analysts' expectations of $63.34 billion. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The firm's quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the company earned $7.25 EPS. As a group, research analysts forecast that Meta Platforms, Inc. will post 29.01 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were paid a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms's payout ratio is currently 7.16%.

Key Meta Platforms News

Here's some of the latest news about META:

• Positive Sentiment: ETFs bought about $102.4 million of META shares on Nov. 11, indicating institutional demand that may have helped support the stock. 55 ETFs Add to Meta Platforms (META) on Nov. 11
• Neutral Sentiment: Meta employees are testing Takes, an in-development prediction-market app where users make forecasts using “cred,” not money. A public launch is uncertain, so any business impact remains unclear. Meta employees test prediction-market app, WSJ reports
• Negative Sentiment: A bearish technical analysis says META recently fell below its 200-day moving average, a signal that could encourage caution among momentum-focused investors. As Meta Platforms Continues To Weaken, A Bearish Trade May Be In Order

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. Wolfe Research reiterated an "outperform" rating and set a $700.00 price target on shares of Meta Platforms in a report on Thursday, July 30th. Weiss Ratings raised shares of Meta Platforms from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Raymond James Financial boosted their target price on Meta Platforms from $650.00 to $860.00 and gave the company a "strong-buy" rating in a research report on Thursday, September 24th. Phillip Securities raised Meta Platforms from a "buy" rating to a "strong-buy" rating and cut their target price for the company from $795.00 to $750.00 in a research note on Monday, August 3rd. Finally, President Capital upgraded Meta Platforms from a "neutral" rating to a "buy" rating and increased their price target for the stock from $660.00 to $897.00 in a report on Thursday, September 24th. Three 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 stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $833.12.

Meta Platforms Company Profile

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.

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:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.