Meta Platforms, Inc. $META Shares Acquired by Arvest Bank Trust Division

Key Points

• Arvest Bank Trust Division increased its Meta Platforms stake by 42.7% in the fourth quarter, bringing its holdings to 30,884 shares valued at about $20.4 million.
• Meta reported stronger-than-expected quarterly results, with $10.44 EPS versus a $6.67 consensus and revenue of $56.31 billion, up 33.1% year over year.
• Analyst sentiment remains broadly positive despite a few target cuts, with a consensus rating of Moderate Buy and an average price target of $840.60.

Arvest Bank Trust Division lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 42.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,884 shares of the social networking company's stock after acquiring an additional 9,234 shares during the quarter. Meta Platforms comprises about 1.1% of Arvest Bank Trust Division's investment portfolio, making the stock its 26th biggest holding. Arvest Bank Trust Division's holdings in Meta Platforms were worth $20,386,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in META. Westchester Capital Management Inc. bought a new stake in Meta Platforms during the third quarter worth approximately $26,000. RHL Group LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $28,000. Strategic Wealth Advisors LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $29,000. Key Capital Management INC bought a new stake in Meta Platforms during the fourth quarter worth approximately $48,000. Finally, Entrust Financial LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $48,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Meta Platforms from $825.00 to $775.00 and set an "overweight" rating for the company in a report on Monday, March 30th. UBS Group downgraded shares of Meta Platforms from a "buy" rating to a "neutral" rating in a research report on Tuesday. Truist Financial reduced their price target on shares of Meta Platforms from $900.00 to $840.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Royal Bank Of Canada restated an "outperform" rating and issued a $810.00 price target on shares of Meta Platforms in a research report on Monday. Finally, BNP Paribas Exane began coverage on shares of Meta Platforms in a research report on Tuesday. They issued an "outperform" rating for the company. Three investment 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $840.60.

Meta Platforms Stock Up 0.7%

Meta Platforms stock opened at $627.57 on Friday. The firm has a market cap of $1.59 trillion, a PE ratio of 22.81, a P/E/G ratio of 1.10 and a beta of 1.23. 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 firm's 50 day moving average price is $618.87 and its two-hundred day moving average price is $636.87. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.43 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

More Meta Platforms News

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

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Curtis J. Mahoney sold 2,079 shares of the company's stock in a transaction that occurred on 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 owned 1,118 shares in the company, valued at approximately $681,890.56. This represents a 65.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,847 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the transaction, the chief technology officer owned 414 shares in the company, valued at approximately $251,641.62. This 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. Insiders have sold a total of 42,860 shares of company stock worth $26,555,260 in the last 90 days. 13.53% of the stock is owned by corporate insiders.

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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