Meta Platforms, Inc. $META Stock: New York Life Investment Management LLC Raises Position

Key Points

• New York Life Investment Management increased its Meta stake by 1.3% in the third quarter, adding 4,206 shares to reach 335,132 shares valued at about $243 million. Institutional investors collectively own 79.91% of Meta’s stock.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $833.12; recent target changes were mixed, though most cited firms maintained positive ratings.
• Meta’s latest reported quarter beat expectations, posting EPS of $7.40 versus a $6.54 estimate and revenue of $64.6 billion, up 26.1% year over year.

New York Life Investment Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 335,132 shares of the social networking company's stock after purchasing an additional 4,206 shares during the period. Meta Platforms comprises about 1.6% of New York Life Investment Management LLC's investment portfolio, making the stock its 12th biggest holding. New York Life Investment Management LLC's holdings in Meta Platforms were worth $243,031,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of 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 buying an additional 3,510,123 shares in the last quarter. Bank of America Corp DE raised its position in Meta Platforms by 14.6% during the first quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company's stock valued at $12,036,491,000 after buying an additional 2,673,494 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 acquiring an additional 162,909 shares in the last quarter. Amundi lifted its stake in 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 acquiring an additional 1,815,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Meta Platforms by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,429,812 shares of the social networking company's stock worth $5,964,745,000 after acquiring an additional 404,948 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. China Renaissance dropped their target price on Meta Platforms from $825.00 to $700.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Piper Sandler decreased their price target on shares of Meta Platforms from $875.00 to $850.00 and set an "overweight" rating for the company in a report on Thursday, October 22nd. Wedbush boosted their price objective on shares of Meta Platforms from $700.00 to $730.00 and gave the company a "neutral" rating in a research report on Thursday, October 22nd. Moffett Nathanson dropped their price objective on shares of Meta Platforms from $800.00 to $740.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Finally, Robert W. Baird dropped their price objective on shares of Meta Platforms from $830.00 to $750.00 and set an "outperform" rating on the stock in a research note on Thursday, July 30th. 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, the company has an average rating of "Moderate Buy" and an average target price of $833.12.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 27,474 shares of the firm's stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $777.44, for a total transaction of $21,359,386.56. The transaction was disclosed in a 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. Also, CFO Susan J. Li sold 9,196 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total value of $5,063,409.56. Following the transaction, the chief financial officer owned 13,186 shares of the company's stock, valued at $7,260,343.46. This trade represents a 41.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 148,846 shares of company stock worth $101,660,996. 13.42% of the stock is currently owned by company insiders.

Key Stories Impacting Meta Platforms

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

• 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
• 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

Meta Platforms Stock Up 2.9%

NASDAQ:META traded up $18.08 during trading hours on Friday, reaching $641.69. The company's stock had a trading volume of 15,115,862 shares, compared to its average volume of 24,035,764. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $779.82. The company has a market cap of $1.64 trillion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth 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. The business's 50-day moving average is $679.85 and its 200-day moving average is $631.72.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping the consensus estimate of $6.54 by $0.86. The firm had revenue of $64.60 billion for 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 business's quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the firm posted $7.25 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Announces Dividend

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

About Meta Platforms

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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