Core Wealth Advisors LLC Takes $684,000 Position in Meta Platforms, Inc. $META

Key Points

• Core Wealth Advisors LLC opened a new position in Meta Platforms during the fourth quarter, buying 1,036 shares valued at about $684,000.
• Meta continues to attract major institutional interest, with investors like Norges Bank, Vanguard, and State Street holding or expanding large stakes; institutions now own 79.91% of the company.
• Recent developments around Meta were largely positive, including a $115 million workforce academy for data center projects, Italy dropping its WhatsApp AI bot investigation, and a new Best Buy “Meta Lab” partnership to promote VR and AI glasses.

Core Wealth Advisors LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,036 shares of the social networking company's stock, valued at approximately $684,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Meta Platforms during the fourth quarter worth about $22,152,075,000. Vanguard Group Inc. raised its stake in Meta Platforms by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company's stock valued at $132,015,115,000 after acquiring an additional 7,269,279 shares during the last quarter. State Street Corp lifted its position in Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company's stock worth $64,158,971,000 after acquiring an additional 1,650,435 shares during the period. Danske Bank A S acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $1,191,175,000. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $813,994,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms News Roundup

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

• Positive Sentiment: Meta announced a partnership with Associated Builders and Contractors to launch a $115 million workforce academy that will train construction technicians for its data center projects, helping address labor shortages and supporting its AI infrastructure expansion. Article Title
• Positive Sentiment: Italy’s competition regulator dropped its investigation into Meta’s WhatsApp AI bot, removing a legal overhang tied to how the company integrates AI into WhatsApp. Article Title
• Positive Sentiment: Meta also partnered with Best Buy to create “Meta Lab” experiential spaces where shoppers can test VR headsets and AI glasses, which could help boost hardware awareness and adoption. Article Title

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on META shares. Wolfe Research dropped their price objective on shares of Meta Platforms from $850.00 to $800.00 and set an "outperform" rating on the stock in a research note on Friday, April 10th. Roth Mkm restated a "buy" rating on shares of Meta Platforms in a research note on Thursday, April 30th. Bank of America dropped their price target on shares of Meta Platforms from $885.00 to $820.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Tigress Financial increased their price target on shares of Meta Platforms from $935.00 to $945.00 and gave the stock a "strong-buy" rating in a report on Wednesday, March 18th. Finally, Morgan Stanley reduced their price objective 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. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $840.60.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 837 shares of Meta Platforms stock in a transaction on Monday, June 1st. The stock was sold at an average price of $629.29, for a total transaction of $526,715.73. Following the completion of the transaction, the chief operating officer owned 12,986 shares of the company's stock, valued at $8,171,959.94. The trade was a 6.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the sale, the insider owned 1,118 shares in the company, valued at $681,890.56. This represents a 65.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,305 shares of company stock valued at $25,567,928 in the last 90 days. 13.53% of the stock is owned by corporate insiders.

Meta Platforms Trading Down 1.3%

Shares of META opened at $585.39 on Tuesday. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.48 trillion, a P/E ratio of 21.28, a PEG ratio of 1.05 and a beta of 1.23. The firm's 50-day moving average is $619.59 and its two-hundred day moving average is $636.72.

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

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued 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 yield of 0.4%. Meta Platforms's payout ratio is currently 7.63%.

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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