Meta Platforms, Inc. $META Stock Position Cut by Consolidated Investment Group LLC

Key Points

• Consolidated Investment Group cut its Meta stake by 19.3% in the third quarter, selling 1,700 shares and ending the period with 7,120 shares worth about $5.16 million. Institutional investors and hedge funds collectively owned 79.91% of the stock.
• Meta beat quarterly estimates, reporting EPS of $7.40 and revenue of $64.6 billion; revenue rose 26.1% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $833.12.
• Company insiders sold 148,846 shares valued at about $101.7 million over the last quarter. CEO Mark Zuckerberg’s reported sale of 27,474 shares was made under a pre-arranged Rule 10b5-1 plan.

Consolidated Investment Group LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 19.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,120 shares of the social networking company's stock after selling 1,700 shares during the quarter. Consolidated Investment Group LLC's holdings in Meta Platforms were worth $5,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Leuthold Group LLC grew its holdings in shares of Meta Platforms by 9.6% during the third quarter. Leuthold Group LLC now owns 20,939 shares of the social networking company's stock worth $15,185,000 after buying an additional 1,838 shares in the last quarter. Palacios Wealth Management LLC lifted its position in shares of 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 in the last quarter. Kohmann Bosshard Financial Services LLC increased its stake in Meta Platforms by 5.6% in the 3rd 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 last quarter. Joseph Group Capital Management increased its stake in Meta Platforms by 18.7% in the 3rd 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 last quarter. Finally, Fulcrum Asset Management LLP increased its stake in Meta Platforms by 3.2% in the 3rd 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 last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 27,474 shares of the company's stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $777.44, for a total transaction of $21,359,386.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Aaron Anderson sold 3,240 shares of Meta Platforms stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $618.06, for a total value of $2,002,514.40. Following the completion of the sale, the chief accounting officer owned 6,271 shares of the company's stock, valued at approximately $3,875,854.26. The trade was a 34.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 148,846 shares of company stock valued at $101,660,996 over the last quarter. Company insiders own 13.42% of the company's stock.

Meta Platforms Stock Up 2.9%

Shares of NASDAQ:META opened at $641.69 on Friday. The firm has a market cap of $1.64 trillion, a P/E ratio of 21.88, a P/E/G ratio of 1.08 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 fifty day simple moving average of $679.85 and a 200 day simple 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.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.54 by $0.86. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The company had revenue of $64.60 billion during the quarter, compared to the consensus estimate of $63.34 billion. During the same period last year, the company earned $7.25 earnings per share. The firm's revenue was up 26.1% compared to the same quarter last year. Analysts predict 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. Investors of record on Monday, September 21st were issued a $0.5250 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's payout ratio is presently 7.16%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent research reports. Scotiabank increased their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 22nd. Morgan Stanley raised their price target on Meta Platforms from $775.00 to $820.00 and gave the company an "overweight" rating in a research note on Monday, October 19th. Susquehanna raised their target price on shares of Meta Platforms from $650.00 to $850.00 and gave the company a "positive" rating in a research note on Thursday, October 22nd. Phillip Securities upgraded shares of Meta Platforms from a "buy" rating to a "strong-buy" rating and decreased their price target for the company from $795.00 to $750.00 in a research note on Monday, August 3rd. Finally, Evercore restated an "outperform" rating on shares of Meta Platforms in a research note on Thursday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $833.12.

Recent Meta Platforms Headlines

Here are a few of the latest headlines 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: 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 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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