Meta Platforms, Inc. $META Stock: M&G PLC Lowers Position

Key Points

• M&G PLC cut its Meta stake by 21.8% in the third quarter, selling 189,549 shares; it retained 680,240 shares valued at about $493 million. Hedge funds and other institutions own roughly 79.9% of Meta’s stock.
• Meta reported quarterly EPS of $7.40, beating the $6.54 consensus, while revenue of $64.6 billion exceeded estimates and rose 26.1% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $833.12. Meta shares recently traded at $641.69, up 2.9% on the day.

M&G PLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 21.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 680,240 shares of the social networking company's stock after selling 189,549 shares during the period. Meta Platforms comprises about 2.5% of M&G PLC's holdings, making the stock its 6th largest holding. M&G PLC's holdings in Meta Platforms were worth $493,174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Leuthold Group LLC raised its position in Meta Platforms by 9.6% in the 3rd quarter. Leuthold Group LLC now owns 20,939 shares of the social networking company's stock worth $15,185,000 after purchasing an additional 1,838 shares during the period. Palacios Wealth Management LLC lifted its stake in Meta Platforms by 2.2% in the third quarter. Palacios Wealth Management LLC now owns 7,982 shares of the social networking company's stock worth $5,788,000 after purchasing an additional 172 shares during the last quarter. Kohmann Bosshard Financial Services LLC boosted its position in Meta Platforms by 5.6% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 2,514 shares of the social networking company's stock valued at $1,822,000 after buying an additional 134 shares during the period. Joseph Group Capital Management boosted its position in Meta Platforms by 18.7% during the third quarter. Joseph Group Capital Management now owns 736 shares of the social networking company's stock valued at $534,000 after buying an additional 116 shares during the period. Finally, Fulcrum Asset Management LLP boosted its position in Meta Platforms by 3.2% during the third quarter. Fulcrum Asset Management LLP now owns 28,144 shares of the social networking company's stock valued at $20,793,000 after buying an additional 874 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 2.9%

Meta Platforms stock traded up $18.08 during trading hours on Friday, reaching $641.69. The stock had a trading volume of 15,115,862 shares, compared to its average volume of 24,035,764. The company has a fifty day simple moving average of $679.85 and a 200-day simple moving average of $631.72. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $779.82. The stock has a market cap of $1.64 trillion, a PE ratio of 21.88, a PEG ratio of 1.08 and a beta of 1.28. 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 (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, beating the consensus estimate of $6.54 by $0.86. The firm had revenue of $64.60 billion during the quarter, compared to the consensus estimate of $63.34 billion. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The company's quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.25 earnings per share. Analysts forecast that Meta Platforms, Inc. will post 29.01 EPS 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 paid a $0.5250 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is presently 7.16%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on META. HSBC reduced their price objective on Meta Platforms from $905.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. The Goldman Sachs Group reissued a "buy" rating and issued a $885.00 target price on shares of Meta Platforms in a research note on Thursday, October 22nd. Benchmark restated a "hold" rating on shares of Meta Platforms in a report on Thursday, August 27th. Canaccord Genuity Group increased their target price on Meta Platforms from $930.00 to $950.00 and gave the company a "buy" rating in a report on Friday, September 25th. Finally, Daiwa Securities Group reduced their price target on Meta Platforms from $790.00 to $687.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $833.12.

Key Meta Platforms News

These are some of the META news items that stood out recently:

• 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: Recent coverage has raised concerns about Meta’s $27 billion AI data-center financing arrangement, while a UK regulator fined the company over repeated inaccuracies in WhatsApp Business data. These headlines add financial and regulatory risk to the investment picture. Meta's $27B Off-Balance-Sheet AI Deal Reminds Steve Eisman of Enron— Joseph Carlson Disagrees Meta fined by UK regulator over repeated inaccuracies in WhatsApp Business data

Insider Activity at Meta Platforms

In related news, insider Christopher Cox sold 40,000 shares of the business's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $712.76, for a total transaction of $28,510,400.00. Following the transaction, the insider owned 184,516 shares in the company, valued at $131,515,624.16. The trade was a 17.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Zuckerberg sold 27,474 shares of the company's stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $777.44, for a total value of $21,359,386.56. 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. Insiders have sold 148,846 shares of company stock worth $101,660,996 over the last 90 days. 13.42% of the stock is owned by insiders.

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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