Meta Platforms, Inc. $META Stock Position Lifted by Wealthspire Advisors LLC

Wealthspire Advisors LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 92.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,230 shares of the social networking company's stock after purchasing an additional 23,191 shares during the quarter. Wealthspire Advisors LLC's holdings in Meta Platforms were worth $31,836,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Tillman Hartley LLC bought a new position in Meta Platforms during the fourth quarter valued at about $274,000. Allianz SE boosted its stake in Meta Platforms by 9.3% during the fourth quarter. Allianz SE now owns 87,258 shares of the social networking company's stock valued at $57,598,000 after buying an additional 7,426 shares in the last quarter. Concorde Asset Management LLC boosted its stake in Meta Platforms by 6.7% during the fourth quarter. Concorde Asset Management LLC now owns 1,232 shares of the social networking company's stock valued at $814,000 after buying an additional 77 shares in the last quarter. M1 Capital Management LLC boosted its stake in Meta Platforms by 2.7% during the fourth quarter. M1 Capital Management LLC now owns 7,860 shares of the social networking company's stock valued at $5,188,000 after buying an additional 205 shares in the last quarter. Finally, United Capital Management of KS Inc. bought a new position in Meta Platforms during the fourth quarter valued at about $9,637,000. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 9,195 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.84, for a total value of $5,589,088.80. Following the completion of the sale, the chief financial officer directly owned 13,186 shares of the company's stock, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Curtis J. Mahoney sold 2,079 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total value of $1,268,023.68. Following the completion of the sale, the insider directly owned 1,118 shares of the company's stock, valued at approximately $681,890.56. This represents a 65.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 41,305 shares of company stock worth $25,567,928. 13.53% of the stock is currently owned by company insiders.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

Meta Platforms Trading Down 0.3%

Shares of NASDAQ META opened at $566.98 on Friday. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 1.01 and a beta of 1.23. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $621.15 and a 200-day simple moving average of $635.89.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.Meta Platforms's revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the business posted $6.43 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms's dividend payout ratio is currently 7.63%.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. Barclays raised their target price on Meta Platforms from $800.00 to $830.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Wells Fargo & Company decreased their target price on Meta Platforms from $770.00 to $765.00 and set an "overweight" rating for the company in a research note on Wednesday, May 20th. Benchmark initiated coverage on Meta Platforms in a research note on Tuesday, June 2nd. They set a "buy" rating for the company. Roth Mkm reaffirmed a "buy" rating on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $725.00 target price (down from $825.00) on shares of Meta Platforms in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $840.60.

About Meta Platforms

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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