AEGON ASSET MANAGEMENT UK Plc Sells 7,241 Shares of Meta Platforms, Inc. $META

Key Points

• AEGON Asset Management UK cut its Meta stake by 2.6%, selling 7,241 shares in the third quarter; it retained 276,363 shares valued at about $200.4 million.
• Meta reported quarterly EPS of $7.40, above the $6.54 consensus, while revenue of $64.6 billion topped estimates and rose 26.1% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $833.12; institutional investors owned 79.91% of Meta’s stock.

AEGON ASSET MANAGEMENT UK Plc decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 276,363 shares of the social networking company's stock after selling 7,241 shares during the period. Meta Platforms makes up about 2.1% of AEGON ASSET MANAGEMENT UK Plc's holdings, making the stock its 12th biggest holding. AEGON ASSET MANAGEMENT UK Plc's holdings in Meta Platforms were worth $200,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp lifted its stake in 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 worth $51,841,811,000 after purchasing an additional 3,510,123 shares during the last quarter. Bank of America Corp DE boosted its position in Meta Platforms by 14.6% during the first quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company's stock valued at $12,036,491,000 after buying an additional 2,673,494 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 buying an additional 162,909 shares during the period. Amundi grew its stake 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 buying an additional 1,815,017 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake 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 buying an additional 404,948 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

Key Stories Impacting Meta Platforms

Here are a few of the latest stories 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
• 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
• Negative Sentiment: Recent coverage has raised concerns about Meta’s $27 billion AI data-center financing arrangement, while a UK regulator fined the company over repeated inaccuracies in WhatsApp Business data. These headlines add financial and regulatory risk to the investment picture. Meta's $27B Off-Balance-Sheet AI Deal Reminds Steve Eisman of Enron— Joseph Carlson Disagrees Meta fined by UK regulator over repeated inaccuracies in WhatsApp Business data

Meta Platforms Stock Performance

NASDAQ:META opened at $641.69 on Friday. The stock has a market cap of $1.64 trillion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 1.08 and a beta of 1.28. The firm's fifty day simple moving average is $679.85 and its 200 day simple moving average is $631.72. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $779.82. 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 issued its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, beating 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 previous year, the firm earned $7.25 EPS. The company's quarterly revenue was up 26.1% compared to the same quarter last year. As a group, research analysts predict that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced 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. 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 payout ratio is presently 7.16%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Scotiabank lifted their price objective on Meta Platforms from $600.00 to $650.00 and gave the stock a "sector perform" rating in a report on Thursday, October 22nd. Daiwa Securities Group dropped their target price on Meta Platforms from $790.00 to $687.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Mizuho increased their target price on Meta Platforms from $750.00 to $950.00 and gave the company an "outperform" rating in a report on Thursday, October 22nd. The Goldman Sachs Group restated a "buy" rating and set a $885.00 price target on shares of Meta Platforms in a research report on Thursday, October 22nd. Finally, Roth Capital decreased their price target on Meta Platforms from $820.00 to $750.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $833.12.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 946 shares of the business's stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $631.03, for a total transaction of $596,954.38. Following the transaction, the chief operating officer owned 3,148 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 148,846 shares of company stock worth $101,660,996. Insiders own 13.42% of the company's stock.

Meta Platforms 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.

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