Meta Platforms, Inc. $META Stake Boosted by Lowe Brockenbrough & Co. Inc.

Key Points

• Lowe Brockenbrough & Co. Inc. increased its Meta Platforms stake by 3.1% in the first quarter, adding 1,193 shares and bringing its total to 39,519 shares worth about $22.61 million.
• Meta’s latest earnings were strong, with $10.44 EPS beating estimates and revenue of $56.31 billion topping expectations, while quarterly sales rose 33.1% year over year.
• Analyst and news flow remains constructive: several firms kept buy ratings or raised targets, and Meta also highlighted new product initiatives such as a free verification badge system and a Marketplace seller app.

Lowe Brockenbrough & Co. Inc. lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,519 shares of the social networking company's stock after purchasing an additional 1,193 shares during the quarter. Meta Platforms comprises 1.1% of Lowe Brockenbrough & Co. Inc.'s portfolio, making the stock its 21st largest position. Lowe Brockenbrough & Co. Inc.'s holdings in Meta Platforms were worth $22,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in META. Brighton Jones LLC increased its position in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC boosted its holdings 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 period. Headwater Capital Co Ltd boosted its holdings 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 period. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in shares of Meta Platforms during the second quarter valued at $213,000. Finally, Capital & Planning LLC bought a new position in shares of Meta Platforms during the second quarter worth about $322,000. Institutional investors own 79.91% of the company's stock.

Meta Platforms News Roundup

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

• Positive Sentiment: A new free verification badge system for Facebook users, which may improve trust and platform quality. Fast Company article
• Positive Sentiment: A dedicated Marketplace seller app with tools for merchants, aimed at making Facebook commerce more useful and organized. Reuters article
• Positive Sentiment: Wall Street commentary remained constructive, with articles highlighting Meta as a strong momentum stock and a potentially attractive AI-era value name.
• Positive Sentiment: Analyst sentiment stayed favorable, including a report that Wells Fargo raised its price target on Meta to $835.00.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. Bank of America dropped their price objective on shares of Meta Platforms from $885.00 to $820.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Needham & Company LLC reissued a "hold" rating on shares of Meta Platforms in a research note on Wednesday, July 8th. Benchmark began coverage on shares of Meta Platforms in a research report on Tuesday, June 2nd. They issued a "buy" rating for the company. Rosenblatt Securities restated a "buy" rating and issued a $1,015.00 price target on shares of Meta Platforms in a research note on Thursday, May 28th. Finally, Susquehanna upgraded Meta Platforms from a "positive" rating to a "positive" rating in a research report on Tuesday, June 2nd. Five analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $835.64.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 9,195 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the sale, the chief financial officer owned 13,186 shares of the company's stock, valued at $8,014,978.24. The trade was a 41.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, CTO Andrew Bosworth sold 7,847 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares of the company's stock, valued at $251,641.62. This trade represents a 94.99% decrease in their ownership of the stock. 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 37,948 shares of company stock worth $23,184,319 over the last ninety days. Insiders own 13.53% of the company's stock.

Meta Platforms Stock Performance

META stock opened at $595.19 on Friday. The company has a 50-day simple moving average of $604.51 and a 200 day simple moving average of $625.76. The company has a market capitalization of $1.51 trillion, a P/E ratio of 21.64, a PEG ratio of 1.02 and a beta of 1.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last released its 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 firm had revenue of $56.31 billion for the quarter, compared to analysts' expectations of $55.56 billion. During the same quarter last year, the company earned $6.43 EPS. Meta Platforms's quarterly revenue was up 33.1% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 29.49 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a $0.525 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms's dividend payout ratio (DPR) is 7.63%.

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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