Meta Platforms, Inc. $META Stock: Lockheed Martin Investment Management Co. Lowers Holdings

Key Points

• Lockheed Martin Investment Management cut its Meta stake by 83.2% in the third quarter, selling 76,300 shares; it retained 15,380 shares worth about $11.2 million.
• Meta reported quarterly earnings of $7.40 per share, beating the $6.54 analyst consensus, while revenue rose 26.1% year over year to $64.6 billion.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $833.12; the stock was reported up 2.9% to $641.69 on Friday.

Lockheed Martin Investment Management Co. reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 83.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,380 shares of the social networking company's stock after selling 76,300 shares during the quarter. Meta Platforms comprises approximately 0.8% of Lockheed Martin Investment Management Co.'s investment portfolio, making the stock its 25th biggest holding. Lockheed Martin Investment Management Co.'s holdings in Meta Platforms were worth $11,153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of META. Bill Few Associates Inc. boosted its holdings in Meta Platforms by 1.3% in the third quarter. Bill Few Associates Inc. now owns 1,206 shares of the social networking company's stock valued at $874,000 after purchasing an additional 15 shares during the last quarter. Value Partners Investments Inc. grew its position in Meta Platforms by 1.8% during the 3rd quarter. Value Partners Investments Inc. now owns 866 shares of the social networking company's stock worth $630,000 after purchasing an additional 15 shares during the period. Tenzing Financial LLC raised its stake in shares of Meta Platforms by 1.3% during the 2nd quarter. Tenzing Financial LLC now owns 1,210 shares of the social networking company's stock valued at $726,000 after buying an additional 16 shares during the last quarter. Uptown Financial Advisors LLC raised its stake in shares of Meta Platforms by 1.3% during the 2nd quarter. Uptown Financial Advisors LLC now owns 1,273 shares of the social networking company's stock valued at $717,000 after buying an additional 16 shares during the last quarter. Finally, Sheets Smith Wealth Management lifted its holdings in shares of Meta Platforms by 2.8% in the 2nd quarter. Sheets Smith Wealth Management now owns 594 shares of the social networking company's stock valued at $334,000 after buying an additional 16 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 2.9%

NASDAQ META traded up $18.08 during trading hours on Friday, hitting $641.69. 15,115,862 shares of the company were exchanged, compared to its average volume of 24,035,764. The company has a 50 day moving average of $679.85 and a two-hundred day moving average of $631.72. 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 firm has a market cap of $1.64 trillion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.08 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $779.82.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping analysts' consensus estimates of $6.54 by $0.86. The business had revenue of $64.60 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $7.25 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 29.01 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms's payout ratio is 7.16%.

Key Meta Platforms News

Here's some of the latest news about META:

• Positive Sentiment: ETFs bought about $102.4 million of META shares on Nov. 11, indicating institutional demand that may have helped support the stock. 55 ETFs Add to Meta Platforms (META) on Nov. 11
• Neutral Sentiment: Meta employees are testing Takes, an in-development prediction-market app where users make forecasts using “cred,” not money. A public launch is uncertain, so any business impact remains unclear. Meta employees test prediction-market app, WSJ reports
• Negative Sentiment: A bearish technical analysis says META recently fell below its 200-day moving average, a signal that could encourage caution among momentum-focused investors. As Meta Platforms Continues To Weaken, A Bearish Trade May Be In Order

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 946 shares of the company's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $631.03, for a total value of $596,954.38. Following the completion of the sale, the chief operating officer directly owned 3,148 shares of the company's stock, valued at $1,986,482.44. This represents a 23.11% decrease in their position. The sale was disclosed in a document filed 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. Over the last ninety days, insiders sold 148,846 shares of company stock valued at $101,660,996. 13.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Meta Platforms from $775.00 to $820.00 and gave the company an "overweight" rating in a research note on Monday, October 19th. Pivotal Research raised their target price on shares of 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 dropped their price target on Meta Platforms from $1,000.00 to $995.00 and set an "overweight" rating for the company in a research report on Thursday, October 22nd. Moffett Nathanson reduced their price objective on Meta Platforms from $800.00 to $740.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Finally, CICC Research lowered their price objective on Meta Platforms from $773.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $833.12.

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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