Global Endowment Management LP Trims Holdings in Meta Platforms, Inc. $META

Key Points

• Global Endowment Management LP cut its Meta Platforms stake by 58.7% in the fourth quarter, leaving it with 3,177 shares worth about $2.1 million.
• Meta’s latest quarterly results were strong, with EPS of $10.44 and revenue of $56.31 billion, both topping analyst expectations and reflecting 33.1% year-over-year revenue growth.
• The company recently announced a quarterly dividend of $0.525 per share and continues to receive broadly positive analyst coverage, with a consensus rating of Moderate Buy and a target price of about $840.60.

Global Endowment Management LP trimmed its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 58.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,177 shares of the social networking company's stock after selling 4,520 shares during the period. Global Endowment Management LP's holdings in Meta Platforms were worth $2,097,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in META. Westchester Capital Management Inc. purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $26,000. RHL Group LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $28,000. Strategic Wealth Advisors LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $29,000. Key Capital Management INC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $48,000. Finally, Entrust Financial LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $48,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Susan J. Li sold 9,195 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.84, for a total value of $5,589,088.80. Following the completion of the transaction, the chief financial officer owned 13,186 shares in the company, valued at $8,014,978.24. The trade was a 41.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Meta Platforms 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 completion of the transaction, the chief operating officer owned 10,557 shares of the company's stock, valued at $6,645,103.65. This represents a 20.83% 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. Insiders have sold 39,170 shares of company stock worth $24,218,565 over the last three months. Insiders own 13.53% of the company's stock.

More Meta Platforms News

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.

Meta Platforms Stock Performance

Shares of META stock opened at $566.98 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23. The company has a 50 day moving average price of $621.15 and a 200 day moving average price of $636.05. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating analysts' consensus estimates of $6.67 by $3.77. The firm 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%. The business's quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.43 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors 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 dividend on an annualized basis and a yield of 0.4%. Meta Platforms's payout ratio is currently 7.63%.

Analyst Upgrades and Downgrades

META has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They issued an "overweight" rating on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $810.00 price target on shares of Meta Platforms in a research note on Monday, June 1st. Sanford C. Bernstein reduced their price target on shares of Meta Platforms from $900.00 to $850.00 and set an "outperform" rating on the stock in a research note on Thursday, April 30th. Tigress Financial lifted their price objective on shares of Meta Platforms from $935.00 to $945.00 and gave the company a "strong-buy" rating in a report on Wednesday, March 18th. Finally, KeyCorp restated an "overweight" rating and issued a $760.00 price objective on shares of Meta Platforms in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently 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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