Meta Platforms, Inc. $META Stock: Cullinan Associates Inc. Lowers Stake

Key Points

• Cullinan Associates cut its Meta stake by 17.7% in the third quarter, selling 3,642 shares and retaining 16,879 shares valued at about $12.24 million.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $833.12; ratings include 3 Strong Buys, 47 Buys and 7 Holds.
• Meta’s latest quarterly results beat expectations: EPS was $7.40 versus $6.54 forecast, while revenue rose 26.1% year over year to $64.60 billion.

Cullinan Associates Inc. cut its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,879 shares of the social networking company's stock after selling 3,642 shares during the quarter. Meta Platforms accounts for approximately 0.9% of Cullinan Associates Inc.'s investment portfolio, making the stock its 26th largest position. Cullinan Associates Inc.'s holdings in Meta Platforms were worth $12,240,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. State Street Corp lifted its position in Meta Platforms by 4.0% during the second quarter. State Street Corp now owns 92,033,963 shares of the social networking company's stock valued at $51,841,811,000 after purchasing an additional 3,510,123 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Meta Platforms by 14.6% in the 1st quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company's stock worth $12,036,491,000 after buying an additional 2,673,494 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Meta Platforms by 1.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,836,063 shares of the social networking company's stock worth $7,230,426,000 after buying an additional 162,909 shares during the last quarter. Amundi increased its holdings in shares of Meta Platforms by 18.1% in the 1st quarter. Amundi now owns 11,858,972 shares of the social networking company's stock worth $6,784,873,000 after buying an additional 1,815,017 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Meta Platforms by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,429,812 shares of the social networking company's stock valued at $5,964,745,000 after buying an additional 404,948 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Tigress Financial reaffirmed a "strong-buy" rating and issued a $945.00 price target (down from $995.00) on shares of Meta Platforms in a report on Thursday, September 24th. Royal Bank Of Canada lifted their price target on Meta Platforms from $770.00 to $800.00 and gave the stock an "outperform" rating in a research report on Thursday, October 22nd. Pivotal Research boosted their price objective on Meta Platforms from $930.00 to $960.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Wells Fargo & Company decreased their price objective on Meta Platforms from $1,000.00 to $995.00 and set an "overweight" rating on the stock in a research report on Thursday, October 22nd. Finally, Truist Financial raised their price objective on Meta Platforms from $763.00 to $1,000.00 and gave the company a "buy" rating in a research note on Tuesday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $833.12.

Insider Activity

In related news, COO Javier Olivan sold 946 shares of the business's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $631.03, for a total transaction of $596,954.38. Following the completion of the transaction, the chief operating officer owned 3,148 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 150,973 shares of company stock worth $103,128,307. 13.42% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Meta Platforms stock opened at $623.61 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.90 and a quick ratio of 1.90. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $779.82. The firm has a market capitalization of $1.59 trillion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.09 and a beta of 1.28. The company's 50-day moving average is $679.23 and its 200 day moving average is $631.88.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were issued a $0.5250 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 21st. Meta Platforms's dividend payout ratio is presently 7.16%.

Meta Platforms News Roundup

These are some of the META news items 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
• 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
• Negative Sentiment: Regulators in the UK fined Meta over repeated inaccuracies in WhatsApp Business data, while a Brazilian electoral court also fined Facebook over alleged campaign-related content issues. These actions add regulatory and reputational risk. Meta Fined by UK Regulator

Meta Platforms Company 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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