Harel Insurance Investments & Financial Services Ltd. Buys 165,849 Shares of Meta Platforms, Inc. $META

Key Points

• Harel Insurance Investments & Financial Services increased its Meta stake by 24.8% in the second quarter, adding 165,849 shares for a total of 835,826 shares valued at approximately $470.8 million. Meta now represents 2.3% of Harel’s portfolio, while institutional investors collectively own 79.91% of the company.
• Meta reported quarterly revenue of $60.8 billion, up 28% year over year and ahead of estimates, but earnings per share of $6.18 fell short of the $7.19 consensus. The company also pays a quarterly dividend of $0.525, equivalent to a 0.4% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $785.32 price target, despite several firms recently lowering targets. Meta shares opened at $570.05, while executives have sold shares under pre-arranged trading plans and the company faces ongoing legal scrutiny over alleged harms to children.

Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 835,826 shares of the social networking company's stock after acquiring an additional 165,849 shares during the quarter. Meta Platforms makes up 2.3% of Harel Insurance Investments & Financial Services Ltd.'s portfolio, making the stock its 13th largest holding. Harel Insurance Investments & Financial Services Ltd.'s holdings in Meta Platforms were worth $470,807,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Meta Platforms by 1.7% in the fourth 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% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after buying an additional 875 shares during 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 worth $86,454,000 after buying an additional 112,000 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new position in shares of Meta Platforms in the second quarter valued at approximately $213,000. Finally, Capital & Planning LLC bought a new position in shares of Meta Platforms in the second quarter valued at approximately $322,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

Shares of META stock opened at $570.05 on Wednesday. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $790.80. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. The firm has a fifty day moving average of $592.21 and a 200-day moving average of $613.14.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 EPS for the quarter, missing analysts' consensus estimates of $7.19 by ($1.01). Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The business had revenue of $60.80 billion for the quarter, compared to analyst estimates of $60.22 billion. During the same period in the prior year, the business earned $7.14 EPS. The company's revenue for the quarter was up 28.0% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 28.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. Meta Platforms's dividend payout ratio is presently 7.91%.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 7,848 shares of Meta Platforms 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 $4,379,184.00. Following the sale, the chief technology officer owned 828 shares of the company's stock, valued at approximately $462,024. This trade represents a 90.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 3,348 shares of the company's 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 directly owned 9,498 shares of the company's stock, valued at approximately $5,708,013.06. This trade represents a 26.06% 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. Insiders have sold a total of 34,957 shares of company stock worth $20,442,696 in the last 90 days. Company insiders own 13.53% of the company's stock.

Meta Platforms News Summary

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

• Positive Sentiment: Meta is reportedly preparing to launch Hatch, a consumer AI agent that could let users browse Reddit, order from DoorDash, shop on Etsy, access Yelp and manage Outlook within Meta’s ecosystem. The product could increase engagement with Meta’s platforms and strengthen its position in consumer AI. Reddit Stock Is Up, What You Need to Know
• Positive Sentiment: Analysts continue to point to accelerating advertising growth, AI-powered ad tools, rising user engagement and increased advertiser adoption as factors helping Meta outperform social-media rivals Reddit and Snap. META Rides on Ad Growth
• Positive Sentiment: Former OpenAI researcher Luke Metz has joined Meta’s Superintelligence Labs and will report to AI chief Alexandr Wang. The hire supports Meta’s effort to build advanced AI capabilities, although the financial benefits are longer term. Luke Metz Joins Meta’s Superintelligence Labs
• Neutral Sentiment: Reports highlighted substantial Meta insider-trading activity during August, including notable transactions on August 18. The article did not establish whether the activity represented buying or selling, limiting its immediate stock-price significance. Monster Insider Trading Alert for Meta Stock
• Negative Sentiment: Instagram chief Adam Mosseri is testifying in a lawsuit brought by 29 states alleging that Meta designed Instagram and Facebook to be addictive to children while downplaying safety risks. An adverse outcome could create regulatory, redesign and financial costs. Instagram Head Adam Mosseri to Testify at Meta Trial

Analysts Set New Price Targets

A number of research firms recently issued reports on META. Wall Street Zen cut Meta Platforms from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Cantor Fitzgerald decreased their price objective on shares of Meta Platforms from $770.00 to $680.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Barclays lowered their price objective on shares of Meta Platforms from $830.00 to $780.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Stifel Nicolaus reduced their target price on shares of Meta Platforms from $805.00 to $780.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $800.00 price target on shares of Meta Platforms in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $785.32.

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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