Cincinnati Insurance Co. Purchases New Stake in Meta Platforms, Inc. $META

Key Points

• Cincinnati Insurance Co. initiated a Meta position in the third quarter, purchasing 2,100 shares valued at approximately $1.52 million. Institutional investors collectively own 79.91% of the company’s stock.
• Meta reported quarterly EPS of $7.40, beating the $6.54 consensus, while revenue rose 26.1% year over year to $64.6 billion.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $833.12; JPMorgan also named Meta its preferred internet stock, citing AI-enhanced advertising potential.

Cincinnati Insurance Co. purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,100 shares of the social networking company's stock, valued at approximately $1,523,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. Advantage Trust Co acquired a new position in Meta Platforms during the second quarter worth $28,000. Philadelphia Investment Partners LLC bought a new stake in Meta Platforms during the second quarter worth $32,000. Horizons Wealth Management acquired a new stake in Meta Platforms in the third quarter valued at $33,000. Axiom Investment Management LLC acquired a new stake in Meta Platforms in the first quarter valued at $36,000. Finally, Schuylkill Financial LLC acquired a new stake in Meta Platforms in the second quarter valued at $36,000. Institutional investors own 79.91% of the company's stock.

Key Meta Platforms News

Here's some of the latest news about META:

• 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: Regulators in the UK fined Meta over repeated inaccuracies in WhatsApp Business data, while a Brazilian electoral court also fined Facebook over alleged campaign-related content issues. These actions add regulatory and reputational risk. Meta Fined by UK Regulator

Analysts Set New Price Targets

A number of brokerages have recently commented on META. Raymond James Financial lifted their price objective on shares of Meta Platforms from $650.00 to $860.00 and gave the company a "strong-buy" rating in a research report on Thursday, September 24th. Bank of America raised their target price on shares of Meta Platforms from $810.00 to $845.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Sanford C. Bernstein reiterated an "outperform" rating and set a $800.00 price target (down from $850.00) on shares of Meta Platforms in a report on Thursday, July 30th. Daiwa Securities Group dropped their price objective on Meta Platforms from $790.00 to $687.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $885.00 price objective on shares of Meta Platforms in a research note on Thursday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $833.12.

Insider Transactions at Meta Platforms

In other news, CAO Aaron Anderson sold 3,240 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $618.06, for a total transaction of $2,002,514.40. Following the completion of the sale, the chief accounting officer owned 6,271 shares in the company, valued at $3,875,854.26. The trade was a 34.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $4,379,184.00. Following the completion of the transaction, the chief technology officer directly owned 828 shares in the company, valued at $462,024. The trade was a 90.46% 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. Over the last 90 days, insiders sold 150,973 shares of company stock worth $103,128,307. 13.42% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of META opened at $623.61 on Friday. The firm has a market capitalization of $1.59 trillion, a PE ratio of 21.26, a PEG ratio of 1.09 and a beta of 1.28. The company's 50-day moving average is $679.23 and its 200-day moving average is $631.88. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $779.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.90 and a quick ratio of 1.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Meta Platforms's quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the company posted $7.25 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Dividend Announcement

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

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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