Gerber Kawasaki Wealth & Investment Management Sells 1,104 Shares of Meta Platforms, Inc. $META

Key Points

• Gerber Kawasaki Wealth & Investment Management cut its Meta Platforms stake by 4.3% in the fourth quarter, selling 1,104 shares and ending with 24,730 shares valued at about $16.3 million.
• Meta’s latest results were strong, with quarterly EPS of $10.44 beating estimates and revenue rising 33.1% year over year to $56.31 billion.
• Analysts remain largely bullish despite some lower price targets, with an average rating of “Moderate Buy” and an average target price of $840.60. Meta also announced a quarterly dividend of $0.525 per share, payable June 25.

Gerber Kawasaki Wealth & Investment Management lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,730 shares of the social networking company's stock after selling 1,104 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in Meta Platforms were worth $16,331,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of META. Brighton Jones LLC increased its stake in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after acquiring an additional 570 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of 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 in the last quarter. Headwater Capital Co Ltd increased its holdings in shares of 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 valued at $86,454,000 after acquiring an additional 112,000 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in shares of Meta Platforms during the second quarter valued at approximately $213,000. Finally, Capital & Planning LLC bought a new stake in shares of Meta Platforms during the second quarter valued at approximately $322,000. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, Director Robert M. Kimmitt sold 504 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $629.29, for a total value of $317,162.16. Following the completion of the sale, the director owned 3,943 shares in the company, valued at $2,481,290.47. This represents a 11.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares of the company's stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders have sold 41,305 shares of company stock worth $25,567,928. 13.53% of the stock is owned by insiders.

Meta Platforms Stock Performance

META opened at $566.98 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The company's fifty day moving average price is $621.15 and its two-hundred day moving average price is $635.89. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.01 and a beta of 1.23.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its 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 net margin of 32.84% and a return on equity of 36.93%. The firm had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same quarter in the prior year, the business posted $6.43 EPS. The business's revenue was up 33.1% compared to the same quarter last year. On average, analysts expect that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms's dividend payout ratio is presently 7.63%.

Analysts Set New Price Targets

META has been the subject of several recent research reports. BNP Paribas Exane initiated coverage on Meta Platforms in a report on Tuesday, June 2nd. They set an "outperform" rating for the company. Bank of America lowered their price objective on shares of Meta Platforms from $885.00 to $820.00 and set a "buy" rating on the stock in a report on Monday, April 20th. TD Cowen lowered their price objective on shares of Meta Platforms from $820.00 to $800.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Sanford C. Bernstein lowered their price objective on shares of Meta Platforms from $900.00 to $850.00 and set an "outperform" rating on the stock in a report on Thursday, April 30th. Finally, Citizens Jmp restated a "market outperform" rating and set a $900.00 price objective on shares of Meta Platforms in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $840.60.

Trending Headlines about Meta Platforms

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

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

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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