Meta Platforms, Inc. $META Stock Position Raised by Consolidated Capital Management LLC

Key Points

• Consolidated Capital Management increased its Meta Platforms stake by 5.9% in the fourth quarter, adding 940 shares to bring its total to 16,758 shares valued at about $11.1 million.
• Meta’s recent business updates were broadly positive, including a $115 million workforce academy for data center construction, the end of Italy’s investigation into its WhatsApp AI bot, and a new Best Buy “Meta Lab” partnership to showcase VR and AI hardware.
• The company remains financially strong, with its latest quarter showing earnings of $10.44 per share versus $6.67 expected and revenue up 33.1% year over year, even as the stock traded down 1.3% on the day noted in the article.

Consolidated Capital Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,758 shares of the social networking company's stock after buying an additional 940 shares during the quarter. Meta Platforms accounts for about 3.3% of Consolidated Capital Management LLC's investment portfolio, making the stock its 10th largest holding. Consolidated Capital Management LLC's holdings in Meta Platforms were worth $11,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Westchester Capital Management Inc. bought a new position in Meta Platforms during the 3rd quarter valued at $26,000. RHL Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth about $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $29,000. Key Capital Management INC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $48,000. Finally, Entrust Financial LLC bought a new position in shares of Meta Platforms during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Key Meta Platforms News

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

• Positive Sentiment: Meta announced a partnership with Associated Builders and Contractors to launch a $115 million workforce academy that will train construction technicians for its data center projects, helping address labor shortages and supporting its AI infrastructure expansion. Article Title
• Positive Sentiment: Italy’s competition regulator dropped its investigation into Meta’s WhatsApp AI bot, removing a legal overhang tied to how the company integrates AI into WhatsApp. Article Title
• Positive Sentiment: Meta also partnered with Best Buy to create “Meta Lab” experiential spaces where shoppers can test VR headsets and AI glasses, which could help boost hardware awareness and adoption. Article Title

Meta Platforms Trading Down 1.3%

Shares of NASDAQ META opened at $585.39 on Tuesday. 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 $1.48 trillion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock's 50 day simple moving average is $619.59 and its 200 day simple moving average is $636.72.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm's revenue for the quarter was up 33.1% on a year-over-year basis. During the same period last year, the company earned $6.43 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on META shares. Arete Research set a $735.00 price target on Meta Platforms and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded Meta Platforms from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Susquehanna upgraded Meta Platforms from a "positive" rating to a "positive" rating in a research report on Tuesday, June 2nd. Bank of America lowered their price target on Meta Platforms from $885.00 to $820.00 and set a "buy" rating for the company in a report on Monday, April 20th. Finally, BNP Paribas Exane started coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set an "outperform" rating on the stock. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $840.60.

Insider Transactions at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 504 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $629.29, for a total value of $317,162.16. Following the sale, the director owned 3,943 shares in the company, valued at approximately $2,481,290.47. This trade represents a 11.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total value of $1,268,023.68. Following the sale, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. This trade represents a 65.03% decrease in their position. 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 sold a total of 41,305 shares of company stock worth $25,567,928 over the last 90 days. Corporate insiders own 13.53% of the company's stock.

Meta Platforms Profile

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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