Magellan Asset Management Ltd Has $308.92 Million Position in Meta Platforms, Inc. $META

Key Points

• Magellan Asset Management increased its Meta Platforms stake by 1.2% in the fourth quarter, ending with 467,995 shares valued at about $308.9 million. Meta now makes up 3.8% of the fund’s portfolio and is its sixth-largest holding.
• Meta’s latest quarterly results were strong, with EPS of $10.44 beating estimates and revenue of $56.31 billion topping forecasts. Revenue rose 33.1% year over year, highlighting continued growth and profitability.
• Wall Street remains broadly constructive on META, with an average rating of “Moderate Buy” and a consensus price target around $840.60. At the same time, the company faces some regulatory and platform-risk concerns, including EU scrutiny over WhatsApp and AI-related issues.

Magellan Asset Management Ltd grew its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 467,995 shares of the social networking company's stock after acquiring an additional 5,474 shares during the period. Meta Platforms comprises 3.8% of Magellan Asset Management Ltd's portfolio, making the stock its 6th largest position. Magellan Asset Management Ltd's holdings in Meta Platforms were worth $308,919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. Brighton Jones LLC raised its stake in shares of Meta Platforms by 1.7% during the fourth 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 last quarter. Revolve Wealth Partners LLC raised its stake in shares of 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 valued at $5,537,000 after acquiring an additional 875 shares during the last quarter. Headwater Capital Co Ltd raised its stake 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 during the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new position in shares of Meta Platforms during the second quarter valued at about $213,000. Finally, Capital & Planning LLC bought a new position in shares of Meta Platforms during the second quarter valued at about $322,000. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on META shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Meta Platforms in a research note on Friday, March 27th. Truist Financial lowered their price objective on shares of Meta Platforms from $900.00 to $840.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Roth Mkm reaffirmed a "buy" rating on shares of Meta Platforms in a research note on Thursday, April 30th. Benchmark began coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They issued a "buy" rating for the company. Finally, Wall Street Zen downgraded shares of Meta Platforms from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $840.60.

Meta Platforms Price Performance

META stock opened at $570.98 on Thursday. 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 $1.44 trillion, a P/E ratio of 20.76, a PEG ratio of 1.04 and a beta of 1.23. The firm has a 50-day moving average of $621.46 and a 200 day moving average of $636.55. 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 (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. Meta Platforms's revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm earned $6.43 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Dividend Announcement

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

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of the company's stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 837 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $629.29, for a total transaction of $526,715.73. Following the completion of the sale, the chief operating officer owned 12,986 shares in the company, valued at approximately $8,171,959.94. This trade represents a 6.06% 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. In the last quarter, insiders have sold 41,305 shares of company stock valued at $25,567,928. Insiders own 13.53% of the company's stock.

Key Meta Platforms News

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

• Positive Sentiment: Analysts and bullish commentators reiterated that Meta may be building a large new subscription opportunity and that the stock still screens as attractive versus its growth potential. Truist says Meta has found its next $20 billion business, stock set to gain more than 40%
• Positive Sentiment: Meta announced a major AI data center lease in India with Reliance Industries, signaling continued infrastructure investment to support its long-term AI strategy and global scale. EU regulators order Meta to allow rival AI chatbots free access to WhatsApp
• Positive Sentiment: Several research pieces highlighted Meta as a long-term AI and advertising winner, arguing that the market may be discounting the value of its AI investments too harshly. Meta: The Market's Perception On AI CapEx Seems Misplaced
• Neutral Sentiment: Meta drew additional attention after being named in “best stocks to buy” and “forever stock” lists, which may support sentiment but is not a company-specific catalyst by itself. 5 Best Forever Stocks to Buy According to Analysts
• Negative Sentiment: EU regulators ordered Meta to restore WhatsApp access for rival AI chatbots during an antitrust probe, adding another regulatory overhang to the company’s AI and messaging strategy. EU regulators order Meta to allow rival AI chatbots free access to WhatsApp
• Negative Sentiment: Reports of an AI-related Instagram security bug and a landmark youth social-media addiction case increase legal, reputational, and platform-risk concerns. Meta A.I. Bug Allowed Hackers to Take Over Instagram Accounts

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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