EJMK Ventures LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,893 shares of the social networking company's stock, valued at approximately $1,250,000. Meta Platforms accounts for approximately 0.8% of EJMK Ventures LLC's investment portfolio, making the stock its 27th biggest holding.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Targeted Financial Services LLC acquired a new position in Meta Platforms in the 4th quarter valued at approximately $441,000. WMS Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at $876,000. Tulsa Wealth Advisors INC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at $4,916,000. Bank of Hawaii grew its holdings in shares of Meta Platforms by 9.0% during the 4th quarter. Bank of Hawaii now owns 22,290 shares of the social networking company's stock valued at $14,713,000 after acquiring an additional 1,835 shares in the last quarter. Finally, Reflection Asset Management purchased a new position in shares of Meta Platforms during the 4th quarter valued at $4,212,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider Curtis J. Mahoney sold 2,079 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total value of $1,268,023.68. Following the sale, the insider directly owned 1,118 shares of the company's stock, valued at approximately $681,890.56. This trade represents a 65.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 dated Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the transaction, the chief technology officer owned 414 shares in the company, valued at $251,641.62. The trade was a 94.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 40,568 shares of company stock worth $25,057,365 in the last 90 days. Insiders own 13.53% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on META shares. Wall Street Zen downgraded shares of Meta Platforms from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Truist Financial lowered their target price on Meta Platforms from $900.00 to $840.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $1,015.00 target price on shares of Meta Platforms in a research report on Thursday, May 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $810.00 price target on shares of Meta Platforms in a research note on Monday, June 1st. Finally, Citizens Jmp reiterated a "market outperform" rating and set a $900.00 price target on shares of Meta Platforms in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $840.60.
Check Out Our Latest Research Report on Meta Platforms
Key Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Wall Street commentary remains constructive on Meta’s long-term AI strategy, with Evercore ISI’s Mark Mahaney naming META one of the best “Magnificent 7” stock buys, reinforcing the view that the stock may still offer upside after its recent pullback. Article: Famous Wall Street Tech Analyst Names Meta and Amazon the Best Magnificent 7 Stock Buys Today
- Positive Sentiment: Meta continues to expand its AI infrastructure, including new computing deals with Crusoe and a strategic data-center partnership in India, which supports the company’s long-term AI capacity and monetization plans. Article: Meta signs new AI computing deals with data center firm Crusoe
- Positive Sentiment: Meta also drew favorable attention for rolling out new AI features for Facebook creators and broader AI tools that could deepen engagement and create new ad products over time. Article: Meta Platforms Rolls Out New AI Features On Facebook For Content Creators
- Neutral Sentiment: Meta continues to get attention for its cloud-computing ambitions, but that move is still viewed as a longer-term optionality story rather than an immediate earnings driver. Article: Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
- Neutral Sentiment: Meta’s strong last reported quarter and upcoming dividend remain supportive, but these are already well known and are not the main catalysts behind today’s trading. Article: META stock and company profile
- Negative Sentiment: Sentiment was hurt by reports that a senior AI executive is leaving Meta during a major AI transition, raising execution concerns at a time when the company is trying to accelerate its artificial intelligence roadmap. Article: Meta head of product for 'AI for work' transformation is leaving company
- Negative Sentiment: Meta was also hit by reports that attackers exploited its AI-powered support chatbot to take over high-profile Instagram accounts, adding security and trust concerns around its AI tools and platform controls. Article: Meta faces AI support breach as key internal AI executive exits
- Negative Sentiment: Meta is also facing regulatory and legal pressure, including a Washington high court decision upholding a $35 million campaign finance penalty, which adds to headline risk. Article: Washington high court upholds $35 million campaign finance penalty against Meta
Meta Platforms Stock Performance
Shares of META stock opened at $577.22 on Friday. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25. The company has a market cap of $1.46 trillion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.02 and a beta of 1.23. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The business's 50 day moving average is $621.27 and its two-hundred day moving average is $634.15.
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. The business had revenue of $56.31 billion during the quarter, compared to analysts' expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. Meta Platforms's revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the previous year, the company earned $6.43 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms's dividend payout ratio (DPR) is 7.63%.
Meta Platforms Profile
(
Free Report)
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.
Further Reading
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