M3 Wealth Management LLC Takes $708,000 Position in Meta Platforms, Inc. $META

Key Points

• M3 Wealth Management LLC opened a new position in Meta Platforms in the fourth quarter, buying 1,073 shares valued at about $708,000.
• Meta reported strong quarterly results, posting EPS of $10.44 versus expectations of $6.67 and revenue of $56.31 billion, up 33.1% year over year.
• The company also announced a quarterly dividend of $0.525 per share and continues to draw mostly bullish analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $840.60.

M3 Wealth Management LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,073 shares of the social networking company's stock, valued at approximately $708,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westchester Capital Management Inc. bought a new position in Meta Platforms during the third quarter worth $26,000. RHL Group LLC bought a new position in Meta Platforms during the fourth quarter worth $28,000. Strategic Wealth Advisors LLC bought a new position in Meta Platforms during the fourth quarter worth $29,000. Key Capital Management INC bought a new position in Meta Platforms during the fourth quarter worth $48,000. Finally, Entrust Financial LLC bought a new position in Meta Platforms during the fourth quarter worth $48,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.7%

Meta Platforms stock opened at $627.57 on Friday. The stock has a market capitalization of $1.59 trillion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The firm has a 50 day simple moving average of $618.87 and a 200-day simple moving average of $636.87.

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

Meta Platforms Announces Dividend

The business 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 of this dividend 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 (DPR) is currently 7.63%.

Insider Buying and Selling

In related news, COO Javier Olivan sold 2,778 shares of Meta Platforms stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the transaction, the chief operating officer owned 10,557 shares of the company's stock, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of Meta Platforms stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total value of $1,268,023.68. Following the transaction, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. This trade represents a 65.03% 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. Over the last 90 days, insiders sold 42,860 shares of company stock worth $26,555,260. Company insiders own 13.53% of the company's stock.

Key Headlines Impacting Meta Platforms

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

• Positive Sentiment: Meta launched a new Meta Business Agent for WhatsApp, Messenger, and Instagram, targeting enterprise customers and giving investors a potential new revenue stream beyond advertising. Reuters article
• Positive Sentiment: Meta won a partial legal victory in Europe over the EU’s treatment of Marketplace under tech rules, easing one regulatory overhang. Reuters article
• Positive Sentiment: Analysts remain constructive overall, with at least one recent upgrade to strong-buy and multiple bullish price targets tied to Meta’s commerce and AI initiatives. Finviz reference

Wall Street Analyst Weigh In

META has been the topic of several research analyst reports. Truist Financial reduced their price objective on Meta Platforms from $900.00 to $840.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Barclays raised their price objective on Meta Platforms from $800.00 to $830.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Benchmark initiated coverage on Meta Platforms in a research note on Tuesday. They set a "buy" rating on the stock. Sanford C. Bernstein reduced their price objective on Meta Platforms from $900.00 to $850.00 and set an "outperform" rating on the stock in a research note on Thursday, April 30th. Finally, Wells Fargo & Company dropped their target price on Meta Platforms from $770.00 to $765.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 20th. Three 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 given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $840.60.

Meta Platforms 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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