Bluedoor Private Wealth LLC Takes $1.04 Million Position in Meta Platforms, Inc. $META

Key Points

• Bluedoor Private Wealth LLC opened a new position in Meta Platforms during the fourth quarter, buying 1,578 shares valued at about $1.04 million.
• Meta’s latest quarterly results beat expectations, with EPS of $10.44 versus consensus of $6.67 and revenue of $56.31 billion, up 33.1% year over year.
• Analyst sentiment remains mostly positive despite some mixed calls: the stock has an average rating of “Moderate Buy” with an average target price of $840.60, while Meta also recently announced a quarterly dividend of $0.525 per share.

Bluedoor Private Wealth LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,578 shares of the social networking company's stock, valued at approximately $1,042,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Westchester Capital Management Inc. purchased a new position in Meta Platforms during the third quarter valued at approximately $26,000. RHL Group LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $29,000. Niles Investment Management LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $29,000. Finally, Key Capital Management INC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $48,000. Institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on META shares. Mizuho reduced their price objective on shares of Meta Platforms from $850.00 to $835.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Benchmark started coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They set a "buy" rating for the company. BNP Paribas Exane started coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They set an "outperform" rating for the company. UBS Group cut shares of Meta Platforms from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 2nd. Finally, TD Cowen reduced their price objective on shares of Meta Platforms from $820.00 to $800.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Three 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $840.60.

Meta Platforms Price Performance

META stock opened at $600.21 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The stock has a market cap of $1.52 trillion, a PE ratio of 21.82, a P/E/G ratio of 1.05 and a beta of 1.23. The firm has a 50 day simple moving average of $622.04 and a two-hundred day simple moving average of $635.51.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping analysts' consensus estimates of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion during the quarter, compared to analysts' expectations of $55.56 billion. During the same quarter in the previous year, the company earned $6.43 EPS. The business's quarterly revenue was up 33.1% compared to the same quarter last year. On average, analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms's payout ratio is currently 7.63%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 7,847 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the transaction, the chief technology officer owned 414 shares of the company's stock, valued at $251,641.62. The trade was a 94.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares of the company's stock, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 39,170 shares of company stock worth $24,218,565 in the last 90 days. 13.53% of the stock is currently owned by corporate insiders.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: Meta’s new AI Mode in Facebook Search and related AI tools could open a new monetization stream and improve engagement across its apps. Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Positive Sentiment: Bank of America reiterated a Buy rating, saying Meta’s AI strategy remains a key growth catalyst. BofA Reiterates Buy Rating on Meta Platforms (META) Cites AI Strategy a Key Growth Catalyst
• Positive Sentiment: Threads reached 500 million monthly active users, highlighting continued platform growth and stronger user engagement. Meta's Threads reaches 500 million monthly users, rolls out new features
• Neutral Sentiment: Meta’s CTO said morale in the AI unit is near historic lows, which may reflect execution challenges even as the company doubles down on AI. Meta's CTO says morale is almost 'the worst it's ever been'
• Negative Sentiment: Apple’s upcoming AI-powered AirPods and smart glasses could intensify competition in the AI wearables market, potentially challenging Meta’s device strategy. Apple to launch AI-juiced AirPods and sunglasses, going head-to-head with Meta
• Negative Sentiment: Reports of consumer-protection lawsuits in Europe add another regulatory overhang for Meta. Consumer Protection: Three Chances for Damages from Meta Platforms

Meta Platforms 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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