Meta Platforms, Inc. $META Shares Sold by L2 Asset Management LLC

Key Points

• L2 Asset Management reduced its Meta Platforms stake by 14.6% in the fourth quarter, selling 2,952 shares and leaving it with 17,277 shares worth about $11.4 million.
• Meta reported strong Q1 earnings, posting $10.44 EPS versus the $6.67 estimate and revenue of $56.31 billion, with sales up 33.1% year over year. Analysts still expect full-year EPS of 29.35.
• Meta also announced a quarterly dividend of $0.525 per share, while analysts broadly remain constructive with a consensus rating of Moderate Buy and an average price target of $840.60.

L2 Asset Management LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,277 shares of the social networking company's stock after selling 2,952 shares during the period. Meta Platforms comprises about 1.5% of L2 Asset Management LLC's investment portfolio, making the stock its 12th biggest holding. L2 Asset Management LLC's holdings in Meta Platforms were worth $11,404,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Kettle Hill Capital Management LLC bought a new position in shares of Meta Platforms during the fourth quarter worth about $832,000. Brooklands Fund Management Ltd lifted its position in shares of Meta Platforms by 15,000.0% during the fourth quarter. Brooklands Fund Management Ltd now owns 1,510 shares of the social networking company's stock worth $1,082,000 after purchasing an additional 1,500 shares during the last quarter. Bluedoor Private Wealth LLC bought a new position in shares of Meta Platforms during the fourth quarter worth about $1,042,000. Cynosure Group LLC lifted its position in shares of Meta Platforms by 70.8% during the fourth quarter. Cynosure Group LLC now owns 1,921 shares of the social networking company's stock worth $1,268,000 after purchasing an additional 796 shares during the last quarter. Finally, 71 West Capital Partners bought a new position in shares of Meta Platforms during the fourth quarter worth about $20,271,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $600.21 on Wednesday. The firm's 50 day moving average is $622.04 and its two-hundred day moving average is $635.51. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25. The firm has a market capitalization of $1.52 trillion, a P/E ratio of 21.82, a PEG ratio of 1.05 and a beta of 1.23. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating 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 company had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. During the same quarter last year, the business earned $6.43 earnings per share. Meta Platforms's revenue was up 33.1% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on META shares. Citizens Jmp reaffirmed a "market outperform" rating and set a $900.00 price target on shares of Meta Platforms in a research report on Tuesday, April 21st. Wolfe Research reduced their price target on shares of Meta Platforms from $850.00 to $800.00 and set an "outperform" rating on the stock in a research report on Friday, April 10th. Bank of America reduced their price target on shares of Meta Platforms from $885.00 to $820.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Wall Street Zen cut shares of Meta Platforms from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $725.00 price target (down from $825.00) on shares of Meta Platforms in a research report on Thursday, April 30th. Three 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $840.60.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 7,847 shares of the firm'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 transaction, the chief technology officer owned 414 shares in the company, valued at $251,641.62. This trade represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of the firm'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 $8,014,978.24. This represents a 41.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 39,170 shares of company stock worth $24,218,565 over the last ninety days. Insiders own 13.53% of the company's stock.

Meta Platforms News Summary

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

• Positive Sentiment: Meta’s new AI Mode in Facebook Search and related AI tools could open a new monetization stream and improve engagement across its apps. Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Positive Sentiment: Bank of America reiterated a Buy rating, saying Meta’s AI strategy remains a key growth catalyst. BofA Reiterates Buy Rating on Meta Platforms (META) Cites AI Strategy a Key Growth Catalyst
• Positive Sentiment: Threads reached 500 million monthly active users, highlighting continued platform growth and stronger user engagement. Meta's Threads reaches 500 million monthly users, rolls out new features
• Neutral Sentiment: Meta’s CTO said morale in the AI unit is near historic lows, which may reflect execution challenges even as the company doubles down on AI. Meta's CTO says morale is almost 'the worst it's ever been'
• Negative Sentiment: Apple’s upcoming AI-powered AirPods and smart glasses could intensify competition in the AI wearables market, potentially challenging Meta’s device strategy. Apple to launch AI-juiced AirPods and sunglasses, going head-to-head with Meta
• Negative Sentiment: Reports of consumer-protection lawsuits in Europe add another regulatory overhang for Meta. Consumer Protection: Three Chances for Damages from Meta Platforms

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.

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