Cumberland Partners Ltd Raises Stake in Meta Platforms, Inc. $META

Key Points

• Cumberland Partners Ltd increased its Meta Platforms stake by 5.0% in the fourth quarter, bringing its holdings to 96,456 shares valued at about $63.7 million.
• Meta reported strong quarterly results, with EPS of $10.44 beating estimates and revenue of $56.31 billion, up 33.1% year over year.
• Analysts remain broadly constructive on Meta: RBC reiterated an Outperform rating with an $810 price target, while the consensus rating is Moderate Buy with an average target of $840.19.

Cumberland Partners Ltd boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,456 shares of the social networking company's stock after buying an additional 4,616 shares during the period. Meta Platforms makes up about 3.9% of Cumberland Partners Ltd's investment portfolio, making the stock its 5th largest position. Cumberland Partners Ltd's holdings in Meta Platforms were worth $63,670,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Nixon Peabody Trust Co. increased its position in Meta Platforms by 9.2% in the 4th quarter. Nixon Peabody Trust Co. now owns 28,121 shares of the social networking company's stock worth $18,562,000 after buying an additional 2,375 shares during the period. Mizuho Markets Americas LLC increased its stake in Meta Platforms by 36.4% during the fourth quarter. Mizuho Markets Americas LLC now owns 105,000 shares of the social networking company's stock valued at $69,309,000 after acquiring an additional 28,000 shares during the period. Daviman Financial LLC bought a new position in Meta Platforms during the fourth quarter valued at about $545,000. Legato Capital Management LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $3,485,000. Finally, Cadence Wealth Management LLC increased its position in shares of Meta Platforms by 3.5% during the fourth quarter. Cadence Wealth Management LLC now owns 2,089 shares of the social networking company's stock valued at $1,379,000 after purchasing an additional 71 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In other news, insider Curtis J. Mahoney sold 2,079 shares of the company's stock in a transaction that occurred on 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 transaction, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. This represents a 65.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the company'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 transaction, the chief financial officer owned 13,186 shares in the company, valued at $8,014,978.24. The trade was a 41.08% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 40,890 shares of company stock worth $25,315,558 in the last quarter. Insiders own 13.53% of the company's stock.

Trending Headlines about Meta Platforms

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

• Positive Sentiment: Royal Bank of Canada reaffirmed its Outperform rating on Meta and set an $810 price target, signaling meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: A new AI adoption study ranked Meta among the top S&P 500 companies for AI execution, reinforcing the view that its AI investments are becoming strategically important. CNBC
• Positive Sentiment: Bank of America reiterated a Buy rating and said Meta’s AI monetization and enterprise adoption could help offset concerns about rising spending. Yahoo Finance / Investing.com
• Positive Sentiment: Several outlets highlighted Meta as a top AI and virtual reality stock, adding to the longer-term bullish narrative around its product pipeline and AI push. Motley Fool

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $600.47 on Tuesday. The business's fifty day moving average price is $617.71 and its two-hundred day moving average price is $636.73. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The stock has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. 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 (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating analysts' consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analysts' expectations of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business's revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the business posted $6.43 earnings per share. As a group, 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. Investors 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 dividend payout ratio is 7.63%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on META. Royal Bank Of Canada restated an "outperform" rating and set a $810.00 price objective on shares of Meta Platforms in a research report on Monday. Bank of America lowered their price objective on Meta Platforms from $885.00 to $820.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Wolfe Research lowered their price objective on Meta Platforms from $850.00 to $800.00 and set an "outperform" rating on the stock in a research report on Friday, April 10th. Morgan Stanley lowered their price objective on Meta Platforms from $825.00 to $775.00 and set an "overweight" rating on the stock in a research report on Monday, March 30th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $725.00 price objective (down from $825.00) on shares of Meta Platforms in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $840.19.

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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.