Harmony Asset Management LLC Trims Stake in Meta Platforms, Inc. $META

Key Points

• Harmony Asset Management cut its Meta Platforms stake by 37.2% in the fourth quarter, leaving it with 4,126 shares worth about $2.72 million.
• Meta reported a strong quarterly earnings beat, posting $10.44 EPS versus $6.67 expected and $56.31 billion in revenue, up 33.1% year over year.
• The company also announced a quarterly dividend of $0.525 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and a price target of $840.19.

Harmony Asset Management LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 37.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,126 shares of the social networking company's stock after selling 2,449 shares during the period. Meta Platforms makes up approximately 0.9% of Harmony Asset Management LLC's investment portfolio, making the stock its 26th biggest holding. Harmony Asset Management LLC's holdings in Meta Platforms were worth $2,724,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in META. Brighton Jones LLC boosted its holdings in 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 acquiring an additional 570 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Meta Platforms by 10.2% during 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 boosted its holdings in Meta Platforms by 294.7% during the 1st 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 during the period. Dymon Asia Capital Singapore PTE. LTD. purchased a new position in Meta Platforms during the 2nd quarter valued at $213,000. Finally, Capital & Planning LLC purchased a new position in Meta Platforms during the 2nd quarter valued at $322,000. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Down 0.4%

Meta Platforms stock opened at $632.51 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.12 and a beta of 1.25. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The business has a fifty day moving average price of $617.84 and a 200-day moving average price of $636.88.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $55.56 billion. During the same quarter in the previous year, the firm earned $6.43 earnings per share. The company's revenue was up 33.1% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's dividend payout ratio is presently 7.63%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the transaction, the chief financial officer owned 13,186 shares in the company, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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, CTO Andrew Bosworth sold 7,847 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the transaction, the chief technology officer owned 414 shares of the company's stock, valued at $251,641.62. This trade represents a 94.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 42,445 shares of company stock worth $26,306,420. 13.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Argus restated a "buy" rating and issued a $800.00 price target on shares of Meta Platforms in a report on Monday, February 2nd. KeyCorp restated an "overweight" rating and issued a $760.00 price target on shares of Meta Platforms in a report on Thursday, April 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Meta Platforms in a research report on Friday, March 27th. Cantor Fitzgerald lowered their price objective on shares of Meta Platforms from $850.00 to $750.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Finally, Sanford C. Bernstein lowered their price objective on shares of Meta Platforms from $900.00 to $850.00 and set an "outperform" rating for the company in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $840.19.

Meta Platforms News Summary

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 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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