Collaborative Wealth Managment Inc. Acquires 890 Shares of Meta Platforms, Inc. $META

Key Points

• Collaborative Wealth Managment Inc. increased its Meta Platforms stake by 192.2% in the fourth quarter, buying 890 additional shares to bring its total to 1,353 shares valued at about $893,000.
• Meta continues to attract heavy institutional ownership, with major holders like Vanguard and State Street also adding shares; overall institutional investors now own 79.91% of the company.
• Wall Street remains broadly upbeat on Meta after a strong earnings report that beat estimates, and the company also recently announced a quarterly dividend of $0.525 per share.

Collaborative Wealth Managment Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 192.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,353 shares of the social networking company's stock after purchasing an additional 890 shares during the quarter. Collaborative Wealth Managment Inc.'s holdings in Meta Platforms were worth $893,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Meta Platforms by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company's stock worth $132,015,115,000 after purchasing an additional 7,269,279 shares during the period. State Street Corp boosted its position in Meta Platforms by 1.9% during the second quarter. State Street Corp now owns 86,925,674 shares of the social networking company's stock worth $64,158,971,000 after purchasing an additional 1,650,435 shares during the period. Capital World Investors boosted its position in Meta Platforms by 0.7% during the third quarter. Capital World Investors now owns 39,247,690 shares of the social networking company's stock worth $28,823,375,000 after purchasing an additional 278,180 shares during the period. Invesco Ltd. boosted its position in Meta Platforms by 0.8% during the third quarter. Invesco Ltd. now owns 17,153,754 shares of the social networking company's stock worth $12,597,374,000 after purchasing an additional 142,229 shares during the period. Finally, Legal & General Group Plc boosted its position in Meta Platforms by 4.1% during the third quarter. Legal & General Group Plc now owns 14,332,168 shares of the social networking company's stock worth $10,525,258,000 after purchasing an additional 558,792 shares during the period. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 504 shares of Meta Platforms stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $629.29, for a total transaction of $317,162.16. Following the completion of the sale, the director directly owned 3,943 shares in the company, valued at $2,481,290.47. The trade was a 11.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,847 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the sale, the chief technology officer owned 414 shares of the company's stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 a total of 42,860 shares of company stock valued at $26,555,260 over the last quarter. Company insiders own 13.53% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Mizuho cut their target price on shares of Meta Platforms from $850.00 to $835.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Erste Group Bank lowered shares of Meta Platforms from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Morgan Stanley cut their target price on shares of Meta Platforms from $825.00 to $775.00 and set an "overweight" rating for the company in a research report on Monday, March 30th. Wedbush upgraded shares of Meta Platforms from an "outperform" rating to a "neutral" rating in a research report on Tuesday. Finally, Wolfe Research cut their price objective on shares of Meta Platforms from $850.00 to $800.00 and set an "outperform" rating for the company in a research report on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $840.60.

Meta Platforms Price Performance

META stock opened at $627.57 on Friday. The firm has a 50 day moving average of $618.87 and a 200-day moving average of $636.87. 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. The firm has a market capitalization of $1.59 trillion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating 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 company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same period last year, the business earned $6.43 earnings per share. Meta Platforms's revenue was up 33.1% compared to the same quarter last year. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's payout ratio is presently 7.63%.

Meta Platforms News Roundup

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

• Positive Sentiment: Meta launched a new Meta Business Agent for WhatsApp, Messenger, and Instagram, targeting enterprise customers and giving investors a potential new revenue stream beyond advertising. Reuters article
• Positive Sentiment: Meta won a partial legal victory in Europe over the EU’s treatment of Marketplace under tech rules, easing one regulatory overhang. Reuters article
• Positive Sentiment: Analysts remain constructive overall, with at least one recent upgrade to strong-buy and multiple bullish price targets tied to Meta’s commerce and AI initiatives. Finviz reference

Meta Platforms Company 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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