Axxcess Wealth Management LLC Purchases 5,372 Shares of Meta Platforms, Inc. $META

Key Points

• Axxcess Wealth Management LLC increased its Meta Platforms stake by 9.2% in the fourth quarter, buying 5,372 additional shares and bringing its total holding to 63,714 shares worth about $42.1 million.
• Meta continues to draw strong institutional and analyst support, with 79.91% of shares held by institutions and Wall Street maintaining a Moderate Buy consensus rating with an average price target of $840.60.
• The company posted a strong quarter, reporting EPS of $10.44 on revenue of $56.31 billion, while also announcing a quarterly dividend of $0.525 per share payable June 25.

Axxcess Wealth Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,714 shares of the social networking company's stock after acquiring an additional 5,372 shares during the period. Axxcess Wealth Management LLC's holdings in Meta Platforms were worth $42,057,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Birchwood Financial Partners Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $636,000. Corient Private Wealth LLC lifted its stake in Meta Platforms by 488.1% in the fourth quarter. Corient Private Wealth LLC now owns 5,466,595 shares of the social networking company's stock valued at $3,608,445,000 after buying an additional 4,537,076 shares during the period. CrossGen Wealth LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $362,000. Plotkin Financial Advisors LLC boosted its holdings in shares of Meta Platforms by 29.9% during the 4th quarter. Plotkin Financial Advisors LLC now owns 1,480 shares of the social networking company's stock worth $977,000 after buying an additional 341 shares in the last quarter. Finally, Royal Capital Wealth Management LLC grew its position in shares of Meta Platforms by 1.8% during the 4th quarter. Royal Capital Wealth Management LLC now owns 1,701 shares of the social networking company's stock worth $1,123,000 after buying an additional 30 shares during the period. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on META shares. Rosenblatt Securities reiterated a "buy" rating and issued a $1,015.00 price objective on shares of Meta Platforms in a research note on Thursday, May 28th. Roth Mkm reissued a "buy" rating on shares of Meta Platforms in a research note on Thursday, April 30th. Wolfe Research reduced their price target on shares of Meta Platforms from $850.00 to $800.00 and set an "outperform" rating for the company in a report on Friday, April 10th. Sanford C. Bernstein decreased their price target on shares of Meta Platforms from $900.00 to $850.00 and set an "outperform" rating for the company in a research note on Thursday, April 30th. Finally, Citizens Jmp reiterated a "market outperform" rating and set a $900.00 price objective on shares of Meta Platforms in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $840.60.

Meta Platforms Stock Performance

NASDAQ META opened at $577.22 on Friday. The company has a market cap of $1.46 trillion, a P/E ratio of 20.98, a PEG ratio of 1.01 and a beta of 1.23. The company has a fifty day simple moving average of $621.98 and a 200 day simple moving average of $634.55. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. During the same quarter in the prior year, the company posted $6.43 earnings per share. The business's revenue was up 33.1% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms's payout ratio is presently 7.63%.

Insider Transactions at Meta Platforms

In related news, Director Robert M. Kimmitt sold 504 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $629.29, for a total value of $317,162.16. Following the sale, the director owned 3,943 shares in the company, valued at $2,481,290.47. This represents a 11.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the firm'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 completion of the transaction, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. The trade was a 65.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 40,568 shares of company stock valued at $25,057,365 over the last three months. Corporate insiders own 13.53% of the company's stock.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: Meta is expanding its AI infrastructure by signing new computing deals with Crusoe, which should help support its long-term AI buildout and capacity needs. Reuters: Meta signs new AI computing deals with data center firm Crusoe
• Positive Sentiment: Meta continues to strengthen its AI-led growth narrative through data center expansion in India and new creator-focused AI tools on Facebook, both of which could improve engagement and future monetization. Insider Monkey: Meta rolls out new AI features on Facebook for content creators
• Positive Sentiment: Threads has reached 500 million monthly active users, and Meta is adding new community and feed features, reinforcing the company’s platform growth beyond Facebook and Instagram. Yahoo Finance: Meta reaches 500 million Threads users
• Neutral Sentiment: Meta’s COO Javier Olivan disclosed another pre-planned stock sale, which is notable but not necessarily a fundamental signal since it was executed under a 10b5-1 plan. InsiderTrades: Meta COO sells stock
• Neutral Sentiment: Meta’s dividend and long-term shareholder-return profile are supportive, but this is unlikely to be the main short-term stock driver. Finbold: Meta to pay dividends next week
• Negative Sentiment: Reuters reported that Meta is lobbying Congress for legal protection from child-harm lawsuits, keeping regulatory and litigation risk in focus for investors. Reuters: Meta lobbies Congress for protection from child-harm lawsuits
• Negative Sentiment: Concerns around AI execution also weighed on sentiment after Reuters said a key executive overseeing Meta’s “AI for work” transformation is leaving the company. Reuters: Meta head of product for AI for work transformation is leaving company
• Negative Sentiment: Meta was also hit by reports that attackers exploited its AI customer support chatbot to compromise Instagram accounts, raising trust and security concerns around its AI tools. Yahoo Finance: Meta faces AI support breach as key internal AI executive exits

About Meta Platforms

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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