Meta Platforms, Inc. $META Shares Bought by BOCHK Asset Management Ltd

Key Points

• BOCHK Asset Management increased its Meta stake by 6.9% in the second quarter, purchasing 1,400 additional shares to hold 21,550 shares valued at approximately $12.1 million.
• Institutional investors remain heavily invested in Meta, collectively owning about 79.91% of the company; Vanguard also increased its position by 3.8%.
• Meta reported 28% year-over-year revenue growth to $60.8 billion, although earnings per share missed estimates. Analysts maintain a “Moderate Buy” consensus, while the company faces significant regulatory costs from an estimated $17 billion–$18 billion settlement over youth-safety allegations.

BOCHK Asset Management Ltd grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,550 shares of the social networking company's stock after purchasing an additional 1,400 shares during the period. Meta Platforms comprises about 1.9% of BOCHK Asset Management Ltd's portfolio, making the stock its 12th biggest position. BOCHK Asset Management Ltd's holdings in Meta Platforms were worth $12,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ashton Thomas Securities LLC raised its holdings in Meta Platforms by 17.4% during the first quarter. Ashton Thomas Securities LLC now owns 18,000 shares of the social networking company's stock worth $10,299,000 after purchasing an additional 2,670 shares in the last quarter. Keybank National Association OH boosted its holdings in Meta Platforms by 15.7% in the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company's stock valued at $88,319,000 after purchasing an additional 18,169 shares in the last quarter. WMS Group LLC purchased a new stake in Meta Platforms in the 4th quarter valued at approximately $876,000. Vanguard Group Inc. increased its position in Meta Platforms by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company's stock worth $132,015,115,000 after purchasing an additional 7,269,279 shares during the period. Finally, Czech National Bank raised its stake in shares of Meta Platforms by 4.9% during the 2nd quarter. Czech National Bank now owns 625,079 shares of the social networking company's stock worth $352,101,000 after buying an additional 29,411 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Key Headlines Impacting Meta Platforms

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

• Positive Sentiment: Meta’s AI strategy remains a potential long-term catalyst. Analysts point to its roughly $60 billion AI investment program as a way to improve ad targeting, monetization and possibly challenge Google in search and digital advertising. Meta's $60 Billion AI Machine Could Dethrone Google Search by Year-End
• Positive Sentiment: Meta-backed Indian telecom operator Jio Platforms received regulatory approval for an initial public offering. A successful listing could provide a valuation reference for Meta’s investment and highlight the value of its strategic holdings. Meta- and Google-backed Indian telecom operator Jio Platforms gets regulatory nod for IPO
• Positive Sentiment: Some investment commentary describes META as undervalued after its shares fell well below their prior record, citing second-quarter revenue growth of 28% to $60.8 billion and the potential for a recovery. Prediction: Meta Stock Reclaims Its All-Time High Before 2029
• Neutral Sentiment: Meta has begun removing fraudulent advertisements in India that used explicit content to distribute malware. The action limits immediate user risk but underscores continuing challenges in ad-quality enforcement and platform trust. Meta removes ads for fraud apps posing as porn after India sounds alarm
• Negative Sentiment: Meta agreed to an approximately $17 billion to $18 billion settlement with U.S. states over allegations that its platforms harmed children and teens. The agreement requires stronger age verification and other safeguards, creating a substantial financial cost and potentially higher compliance expenses. Explainer: Settlement requires Meta to check young users' ages
• Negative Sentiment: Research claiming Temu spent as much as $962 million on advertising tied to fake creators raises additional concerns about content moderation, advertiser oversight and reputational risk on Meta’s platforms. Temu spent up to $962 million on ads that helped finance an army of fake creators on Meta platforms

Meta Platforms Stock Performance

Shares of META opened at $572.34 on Tuesday. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $790.80. The stock has a market cap of $1.46 trillion, a P/E ratio of 21.56, a PEG ratio of 1.00 and a beta of 1.25. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $592.45 and a two-hundred day moving average of $610.45.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share 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 analysts' expectations of $60.22 billion. During the same period last year, the business earned $7.14 earnings per share. The company's revenue for the quarter was up 28.0% on a year-over-year basis. As a group, research analysts predict that Meta Platforms, Inc. will post 28.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on META. Weiss Ratings downgraded Meta Platforms from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. TD Cowen cut their price objective on Meta Platforms from $800.00 to $750.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Royal Bank Of Canada reissued an "outperform" rating and issued a $810.00 target price on shares of Meta Platforms in a report on Monday, June 1st. Guggenheim restated a "buy" rating and set a $800.00 target price on shares of Meta Platforms in a research report on Tuesday, July 28th. Finally, Arete Research set a $735.00 price target on shares of Meta Platforms and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $785.22.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 9,196 shares of Meta Platforms stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $550.61, for a total transaction of $5,063,409.56. Following the completion of the sale, the chief financial officer directly owned 13,186 shares in the company, valued at $7,260,343.46. The trade was a 41.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 1,258 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $600.00, for a total transaction of $754,800.00. Following the completion of the transaction, the chief operating officer directly owned 1,517 shares of the company's stock, valued at approximately $910,200. This represents a 45.33% 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. Over the last quarter, insiders have sold 32,987 shares of company stock valued at $19,202,995. 13.53% of the stock is owned by company insiders.

About Meta Platforms

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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source