Evoke Wealth LLC Buys 4,833 Shares of Meta Platforms, Inc. $META

Key Points

• Evoke Wealth LLC increased its Meta Platforms stake by 19.3% in the fourth quarter, buying 4,833 additional shares and bringing its total to 29,900 shares worth about $19.7 million.
• Meta recently posted strong quarterly results, with EPS of $10.44 and revenue of $56.31 billion, both beating analyst expectations and showing 33.1% year-over-year revenue growth.
• The company is drawing attention for new monetization efforts, including paid subscription plans across its apps and Meta AI, while also facing some caution from insider selling and potential EU privacy scrutiny over AI-related data collection.

Evoke Wealth LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 19.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,900 shares of the social networking company's stock after acquiring an additional 4,833 shares during the quarter. Evoke Wealth LLC's holdings in Meta Platforms were worth $19,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Westchester Capital Management Inc. acquired a new stake in Meta Platforms during the third quarter worth approximately $26,000. Strategic Wealth Advisors LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $29,000. Key Capital Management INC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $48,000. Entrust Financial LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $48,000. Finally, Fairway Wealth LLC grew its stake in Meta Platforms by 36.8% during the fourth quarter. Fairway Wealth LLC now owns 78 shares of the social networking company's stock worth $51,000 after purchasing an additional 21 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Trending Headlines about Meta Platforms

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

• Positive Sentiment: Meta launched paid subscription plans across its flagship apps and Meta AI, opening a new monetization path that could reduce reliance on ad revenue. Mark Zuckerberg says a Meta cloud computing business 'definitely on the table'
• Positive Sentiment: Analysts and market commentators are pointing to the subscription push as a meaningful upside driver, with some estimating it could add billions in annual revenue if adoption is strong. Meta's Subscription Push Could Add $13.5 Billion By 2028 Across Instagram, Facebook, WhatsApp
• Neutral Sentiment: Meta also said it may eventually use excess AI/data-center capacity for a cloud business, which adds long-term optionality but is still early-stage. Mark Zuckerberg says a Meta cloud computing business 'definitely on the table'
• Neutral Sentiment: The company declared a quarterly dividend, which is modest but reinforces capital-return strength. Meta Announces Quarterly Cash Dividend
• Negative Sentiment: Reuters reported Meta’s employee mouse-click tracking tool for AI training may run into EU privacy concerns, creating regulatory risk around data collection and cross-border use. Exclusive: Meta tool to track employee mouse clicks on collision course with EU privacy rules
• Negative Sentiment: Recent commentary from Jim Cramer and disclosures of insider selling add some caution around execution and valuation. Jim Cramer Says Meta “Has Not Excelled in a Visible Way”

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $632.51 on Monday. The stock has a fifty day simple moving average of $617.84 and a 200 day simple moving average of $636.92. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The company has a market capitalization of $1.60 trillion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. 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 announced its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same quarter in the prior year, the company posted $6.43 earnings per share. Meta Platforms's revenue was up 33.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 29.35 earnings per share 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. Shareholders of record on Monday, June 15th will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's payout ratio is currently 7.63%.

Insiders Place Their Bets

In other Meta Platforms news, insider Curtis J. Mahoney sold 2,079 shares of the business's stock in a transaction on 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 transaction, the insider owned 1,118 shares of the company's stock, valued at approximately $681,890.56. The trade was a 65.03% decrease in their ownership of the stock. The transaction 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, COO Javier Olivan sold 2,778 shares of the business's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the completion of the transaction, the chief operating officer directly owned 10,557 shares in the company, valued at approximately $6,645,103.65. This represents a 20.83% decrease in their position. 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 a total of 40,890 shares of company stock worth $25,315,558 in the last ninety days. Company insiders own 13.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on META shares. Morgan Stanley decreased their target price on Meta Platforms from $825.00 to $775.00 and set an "overweight" rating for the company in a research note on Monday, March 30th. Wells Fargo & Company decreased their target price on Meta Platforms from $770.00 to $765.00 and set an "overweight" rating for the company in a research note on Wednesday, May 20th. Bank of America decreased their target price on Meta Platforms from $885.00 to $820.00 and set a "buy" rating for the company in a research note on Monday, April 20th. TD Cowen decreased their target price on Meta Platforms from $820.00 to $800.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Finally, Truist Financial decreased their target price on Meta Platforms from $900.00 to $840.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus 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.

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