Deseret Mutual Benefit Administrators Trims Position in Meta Platforms, Inc. $META

Key Points

• Deseret Mutual Benefit Administrators reduced its Meta Platforms stake by 31.1% in the fourth quarter, selling 1,047 shares and leaving it with 2,316 shares worth about $1.53 million.
• Meta reported strong quarterly results, with EPS of $10.44 beating estimates of $6.67 and revenue of $56.31 billion topping expectations; revenue also rose 33.1% year over year.
• The stock was trading lower and has drawn mixed signals, including insider selling, a recent dividend of $0.525 per share, and ongoing analyst support with a consensus rating of “Moderate Buy.”

Deseret Mutual Benefit Administrators trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 31.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,316 shares of the social networking company's stock after selling 1,047 shares during the period. Meta Platforms accounts for approximately 0.7% of Deseret Mutual Benefit Administrators' portfolio, making the stock its 20th largest position. Deseret Mutual Benefit Administrators' holdings in Meta Platforms were worth $1,529,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in META. Brighton Jones LLC raised its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares in the last quarter. Headwater Capital Co Ltd raised its holdings in Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company's stock worth $86,454,000 after purchasing an additional 112,000 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. purchased a new position in Meta Platforms during the second quarter worth about $213,000. Finally, Capital & Planning LLC purchased a new position in Meta Platforms during the second quarter worth about $322,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 2.3%

Shares of Meta Platforms stock opened at $570.98 on Thursday. The company has a 50-day moving average of $621.46 and a two-hundred day moving average of $636.55. The stock has a market cap of $1.44 trillion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-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.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share 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 period last year, the company posted $6.43 EPS. The company's revenue was up 33.1% on a year-over-year basis. On average, research analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms's dividend payout ratio (DPR) is 7.63%.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: Analysts and bullish commentators reiterated that Meta may be building a large new subscription opportunity and that the stock still screens as attractive versus its growth potential. Truist says Meta has found its next $20 billion business, stock set to gain more than 40%
• Positive Sentiment: Meta announced a major AI data center lease in India with Reliance Industries, signaling continued infrastructure investment to support its long-term AI strategy and global scale. EU regulators order Meta to allow rival AI chatbots free access to WhatsApp
• Positive Sentiment: Several research pieces highlighted Meta as a long-term AI and advertising winner, arguing that the market may be discounting the value of its AI investments too harshly. Meta: The Market's Perception On AI CapEx Seems Misplaced
• Neutral Sentiment: Meta drew additional attention after being named in “best stocks to buy” and “forever stock” lists, which may support sentiment but is not a company-specific catalyst by itself. 5 Best Forever Stocks to Buy According to Analysts
• Negative Sentiment: EU regulators ordered Meta to restore WhatsApp access for rival AI chatbots during an antitrust probe, adding another regulatory overhang to the company’s AI and messaging strategy. EU regulators order Meta to allow rival AI chatbots free access to WhatsApp
• Negative Sentiment: Reports of an AI-related Instagram security bug and a landmark youth social-media addiction case increase legal, reputational, and platform-risk concerns. Meta A.I. Bug Allowed Hackers to Take Over Instagram Accounts

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 7,847 shares of the firm'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 transaction of $4,769,642.01. Following the completion of the transaction, the chief technology officer directly owned 414 shares of the company's stock, valued at $251,641.62. This trade represents a 94.99% decrease in their position. The sale was disclosed in a document filed with the SEC, 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, COO Javier Olivan sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the transaction, the chief operating officer directly owned 10,557 shares of the company's stock, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 41,305 shares of company stock valued at $25,567,928. Company insiders own 13.53% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Raymond James Financial raised shares of Meta Platforms from an "underperform" rating to an "outperform" rating in a report on Tuesday, June 2nd. Wells Fargo & Company cut their price target on shares of Meta Platforms from $770.00 to $765.00 and set an "overweight" rating for the company in a report on Wednesday, May 20th. Roth Mkm reissued a "buy" rating on shares of Meta Platforms in a report on Thursday, April 30th. Citizens Jmp reissued a "market outperform" rating and set a $900.00 price target on shares of Meta Platforms in a report on Tuesday, April 21st. Finally, Stifel Nicolaus cut their price target on shares of Meta Platforms from $805.00 to $780.00 and set a "buy" rating for the company in a report on Friday, May 1st. Three research 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 stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $840.60.

About Meta Platforms

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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