AIA Group Ltd lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,936 shares of the social networking company's stock after selling 34,628 shares during the period. Meta Platforms accounts for approximately 1.8% of AIA Group Ltd's investment portfolio, making the stock its 10th biggest position. AIA Group Ltd's holdings in Meta Platforms were worth $144,990,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Third View Private Wealth LLC lifted its holdings in shares of Meta Platforms by 3.1% in the 3rd quarter. Third View Private Wealth LLC now owns 48,140 shares of the social networking company's stock worth $34,910,000 after acquiring an additional 1,456 shares during the last quarter. Provenance Wealth Advisors LLC boosted its position in shares of Meta Platforms by 1,887.1% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 20,010 shares of the social networking company's stock worth $14,511,000 after purchasing an additional 19,003 shares during the period. RFG Holdings Inc. increased its holdings in Meta Platforms by 1.8% in the 3rd quarter. RFG Holdings Inc. now owns 3,901 shares of the social networking company's stock valued at $2,829,000 after purchasing an additional 68 shares during the last quarter. Hughes Financial Services LLC increased its holdings in Meta Platforms by 10.9% in the 3rd quarter. Hughes Financial Services LLC now owns 671 shares of the social networking company's stock valued at $487,000 after purchasing an additional 66 shares during the last quarter. Finally, TrinityBridge Ltd increased its holdings in Meta Platforms by 57.4% in the 3rd quarter. TrinityBridge Ltd now owns 111,485 shares of the social networking company's stock valued at $80,879,000 after purchasing an additional 40,650 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
More Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta launched Spaces, a collaboration feature for its Muse AI agents, following the rollout of Muse Voice. The new offerings may help strengthen user engagement and expand Meta’s consumer AI ecosystem. Meta introduces Spaces
- Positive Sentiment: Recent earnings commentary points to AI supporting Meta’s advertising operations, reinforcing the potential for the company’s AI investments to generate revenue. Takeaways from recent earnings
- Neutral Sentiment: Meta paused planned updates to its terms and is keeping existing rules in place. The move avoids an immediate policy change, though the underlying issues remain unresolved. Meta pauses planned terms updates
- Neutral Sentiment: Plans for new nonvoting Class C shares have been described as effectively creating a 2-for-1 split. A split changes the number of shares, but does not by itself change the company’s underlying value; the structure preserves Mark Zuckerberg’s voting control. Is Meta Platforms next for a stock split?
- Negative Sentiment: Meta and other platforms sued to block California restrictions on social-media features for users under 16. The case adds regulatory uncertainty and potential legal costs. Platforms sue over California teen social-media law
- Negative Sentiment: Meta warned that political backlash and possible limits on data-center construction could complicate its AI expansion. Its $15 billion senior-notes offering also highlights the scale of financing required for investment. Data-center expansion concerns
- Negative Sentiment: Reported ETF net selling and insider share sales may add short-term pressure, although the disclosed insider transaction was made under a pre-arranged trading plan. ETFs are net sellers of Meta Platforms
Meta Platforms Stock Performance
NASDAQ:META opened at $610.15 on Monday. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $779.82. The company has a fifty day simple moving average of $674.97 and a two-hundred day simple moving average of $632.16. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.56 trillion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.86. The business had revenue of $64.60 billion for the quarter, compared to analysts' expectations of $63.34 billion. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The company's revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period last year, the firm earned $7.25 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 29.01 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders 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 yield of 0.3%. Meta Platforms's dividend payout ratio is 7.16%.
Insiders Place Their Bets
In other Meta Platforms news, COO Javier Olivan sold 946 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $614.15, for a total value of $580,985.90. Following the sale, the chief operating officer owned 4,094 shares of the company's stock, valued at $2,514,330.10. This trade represents a 18.77% decrease in their position. The transaction 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. In the last quarter, insiders sold 149,398 shares of company stock worth $102,134,435. 13.42% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
META has been the topic of a number of research analyst reports. UBS Group reissued an "outperform" rating and issued a $920.00 target price on shares of Meta Platforms in a research report on Thursday, October 22nd. TD Cowen lowered their price target on Meta Platforms from $865.00 to $850.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. President Capital raised Meta Platforms from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $660.00 to $897.00 in a research note on Thursday, September 24th. Daiwa Securities Group cut their price objective on Meta Platforms from $790.00 to $687.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Finally, Loop Capital boosted their price objective on Meta Platforms from $740.00 to $955.00 and gave the company a "buy" rating in a report on Thursday, September 24th. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $833.12.
Check Out Our Latest Stock Report on META
Meta Platforms Profile
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Free Report)
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.
Founded in 2004 as Facebook by Mark Zuckerberg and fellow students, the company changed its name to Meta Platforms in 2021 to reflect its broader focus on building social technologies and immersive digital experiences.
Further Reading
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).
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