Meta Platforms, Inc. $META Stock: Carnegie Lake Advisors LLC Grows Stake

Key Points

• Carnegie Lake Advisors increased its Meta stake by 386.6% in the third quarter, to 7,250 shares valued at about $5.26 million; Meta represents 4.6% of its portfolio.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $833.12. Recent target changes ranged from Scotiabank’s $650 to Raymond James’ $860.
• Meta beat quarterly earnings and revenue estimates, with revenue up 26.1% year over year. Insiders have sold roughly $103.1 million in shares over the past 90 days; COO Javier Olivan’s sale was made under a pre-arranged trading plan.

Carnegie Lake Advisors LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 386.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,250 shares of the social networking company's stock after purchasing an additional 5,760 shares during the quarter. Meta Platforms accounts for about 4.6% of Carnegie Lake Advisors LLC's portfolio, making the stock its 6th largest holding. Carnegie Lake Advisors LLC's holdings in Meta Platforms were worth $5,258,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Horizons Wealth Management bought a new position in Meta Platforms in the third quarter valued at approximately $33,000. Advantage Trust Co acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at $28,000. Prudent Man Investment Management Inc. increased its stake in shares of Meta Platforms by 116.7% in the 3rd quarter. Prudent Man Investment Management Inc. now owns 52 shares of the social networking company's stock valued at $38,000 after purchasing an additional 28 shares during the last quarter. Philadelphia Investment Partners LLC bought a new position in shares of Meta Platforms in the 2nd quarter valued at $32,000. Finally, Axiom Investment Management LLC bought a new position in shares of Meta Platforms in the 1st quarter valued at $36,000. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Scotiabank upped their price objective on Meta Platforms from $600.00 to $650.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 22nd. Raymond James Financial lifted their target price on Meta Platforms from $650.00 to $860.00 and gave the company a "strong-buy" rating in a research report on Thursday, September 24th. Wells Fargo & Company dropped their target price on shares of Meta Platforms from $1,000.00 to $995.00 and set an "overweight" rating for the company in a report on Thursday, October 22nd. Benchmark reissued a "hold" rating on shares of Meta Platforms in a report on Thursday, August 27th. Finally, Citigroup raised their price target on shares of Meta Platforms from $895.00 to $905.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $833.12.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 946 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $631.03, for a total transaction of $596,954.38. Following the sale, the chief operating officer directly owned 3,148 shares of the company's stock, valued at $1,986,482.44. The trade was a 23.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 150,973 shares of company stock worth $103,128,307. 13.42% of the stock is owned by company insiders.

Key Headlines Impacting Meta Platforms

These are some of the META headlines that stood out recently:

• Positive Sentiment: ETFs bought about $99.7 million of Meta shares on Nov. 10, a sign of institutional fund demand. ETFs Bought $99.7 Million of Meta Platforms
• Neutral Sentiment: COO Javier Olivan reported stock sales under a pre-arranged Rule 10b5-1 plan. Such planned sales are not necessarily a signal about the company’s outlook, but may still draw investor attention. SEC ownership filing
• Negative Sentiment: United Airlines barred AI agents from booking flights, raising doubts about a prominent potential use case for Meta’s Muse agent and adding pressure to expectations for AI-related growth. United Airlines Bars AI Agents From Booking Tickets

Meta Platforms Price Performance

Shares of META opened at $623.61 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.59 trillion, a PE ratio of 21.26, a PEG ratio of 1.09 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $779.82. The business has a 50-day simple moving average of $679.23 and a two-hundred day simple moving average of $631.88.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, beating analysts' consensus estimates of $6.54 by $0.86. The firm had revenue of $64.60 billion for the quarter, compared to analyst estimates of $63.34 billion. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The business's revenue for the quarter was up 26.1% on a year-over-year basis. During the same period last year, the firm posted $7.25 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 29.01 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 21st were given a dividend of $0.5250 per share. The ex-dividend date was Monday, September 21st. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is currently 7.16%.

Meta Platforms Profile

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta's business, with its platforms providing tools for businesses to promote products and services.

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