Fifth Third Bancorp decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,143,343 shares of the social networking company's stock after selling 58,886 shares during the quarter. Meta Platforms accounts for about 1.0% of Fifth Third Bancorp's holdings, making the stock its 14th largest holding. Fifth Third Bancorp's holdings in Meta Platforms were worth $644,034,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of META. Brighton Jones LLC lifted its position in shares of Meta Platforms by 1.7% during the 4th 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 in the last quarter. Revolve Wealth Partners LLC grew its stake in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after acquiring an additional 875 shares during the period. Headwater Capital Co Ltd increased its holdings in Meta Platforms by 294.7% in the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company's stock worth $86,454,000 after acquiring an additional 112,000 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in Meta Platforms during the second quarter worth $213,000. Finally, Capital & Planning LLC acquired a new position in Meta Platforms during the second quarter worth $322,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Meta Platforms News Summary
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta opened paid developer access to Muse Spark 1.3, with company executives and analysts claiming the model is approaching or matching offerings from Anthropic and OpenAI. Improved performance and token efficiency could support adoption in coding agents, model APIs, subscriptions and future generative-search advertising. Meta Platforms: Muse Spark 1.3 Was The Warning Shot
- Positive Sentiment: Recent coverage identifies Muse Spark 1.3 as a new catalyst that could improve confidence in Meta’s AI roadmap and help the company recover toward its prior highs, provided the technology translates into revenue and returns on investment. Meta Rises 4% as Muse Spark 1.3 Claims Parity with Anthropic and OpenAI
- Positive Sentiment: Some investment commentary views Meta as a major beneficiary of the ongoing AI infrastructure and computing cycle, alongside other hyperscalers, potentially creating a long-term growth opportunity. Hyperscalers Are the Backbone of AI
Insider Buying and Selling
In other news, insider Curtis Mahoney sold 1,559 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total value of $869,922.00. Following the completion of the sale, the insider directly owned 1,957 shares in the company, valued at $1,092,006. This represents a 44.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 3,348 shares of Meta Platforms stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $600.97, for a total value of $2,012,047.56. Following the transaction, the chief operating officer owned 9,498 shares in the company, valued at approximately $5,708,013.06. The trade was a 26.06% decrease in their position. 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 have sold 32,987 shares of company stock valued at $19,202,995. 13.53% of the stock is currently owned by company insiders.
Meta Platforms Stock Performance
NASDAQ:META opened at $616.77 on Friday. The company has a market cap of $1.57 trillion, a P/E ratio of 23.23, a P/E/G ratio of 1.07 and a beta of 1.25. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $790.80. The company's 50-day moving average price is $596.16 and its 200-day moving average price is $609.26. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.19 by ($1.01). The business had revenue of $60.80 billion for the quarter, compared to analysts' expectations of $60.22 billion. Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The firm's revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the company posted $7.14 EPS. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 28.17 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on META. Citigroup dropped their target price on shares of Meta Platforms from $850.00 to $800.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Citizens Jmp reduced their price target on shares of Meta Platforms from $800.00 to $770.00 and set a "market outperform" rating for the company in a research report on Thursday, July 30th. Wedbush reaffirmed a "neutral" rating and issued a $595.00 price target on shares of Meta Platforms in a research note on Tuesday, September 1st. DA Davidson lowered their price objective on Meta Platforms from $850.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Finally, Mizuho set a $750.00 price objective on Meta Platforms in a research note on Thursday, July 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 company. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $785.22.
Check Out Our Latest Research Report on META
About Meta Platforms
(
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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