Meta Platforms, Inc. $META Stock Sold by Balentine LLC

Key Points

• Balentine LLC cut its Meta stake by 46.6% in the third quarter, selling 2,287 shares and retaining 2,619 shares valued at about $1.9 million.
• Meta reported quarterly EPS of $7.40, beating the $6.54 consensus, while revenue rose 26.1% year over year to $64.6 billion.
• Company insiders sold 150,973 shares worth about $103.1 million over 90 days; reported sales by executives were made under pre-arranged Rule 10b5-1 plans.

Balentine LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 46.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,619 shares of the social networking company's stock after selling 2,287 shares during the period. Balentine LLC's holdings in Meta Platforms were worth $1,899,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Horizons Wealth Management bought a new position in shares of Meta Platforms during the 3rd quarter valued at about $33,000. Advantage Trust Co acquired a new stake in shares of Meta Platforms during the second quarter worth $28,000. Prudent Man Investment Management Inc. lifted its position in Meta Platforms by 116.7% in the 3rd quarter. Prudent Man Investment Management Inc. now owns 52 shares of the social networking company's stock valued at $38,000 after acquiring an additional 28 shares in the last quarter. Philadelphia Investment Partners LLC bought a new stake in Meta Platforms in the 2nd quarter valued at $32,000. Finally, Axiom Investment Management LLC bought a new position in Meta Platforms during the 1st quarter worth about $36,000. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In related news, CAO Aaron Anderson sold 3,240 shares of Meta Platforms stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $618.06, for a total transaction of $2,002,514.40. Following the completion of the transaction, the chief accounting officer owned 6,271 shares in the company, valued at approximately $3,875,854.26. This trade represents a 34.07% decrease in their ownership of the stock. The transaction 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, CFO Susan J. Li sold 9,196 shares of the business'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 directly owned 13,186 shares in the company, valued at approximately $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. Insiders sold 150,973 shares of company stock worth $103,128,307 over the last ninety days. Company insiders own 13.42% of the company's stock.

Top Meta Platforms Stories

Investors following META have been watching these stories:

• Positive Sentiment: JPMorgan named Meta its preferred internet stock, citing AI-enhanced advertising and the potential for Family of Apps ad revenue to compare favorably with Google Search. Meta Platforms Wins JPMorgan Backing
• Neutral Sentiment: COO Javier Olivan reported stock sales under a pre-arranged Rule 10b5-1 plan. Such planned sales are not necessarily a signal about the company’s outlook, but may still draw investor attention. SEC ownership filing
• Negative Sentiment: United Airlines barred AI agents from booking flights, raising doubts about a prominent potential use case for Meta’s Muse agent and adding pressure to expectations for AI-related growth. United Airlines Bars AI Agents From Booking Tickets

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $623.61 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day moving average price of $679.23 and a 200 day moving average price of $631.88. The stock has a market capitalization of $1.59 trillion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.09 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $779.82.

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, 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 for the quarter, compared to analysts' expectations of $63.34 billion. During the same quarter in the prior year, the business posted $7.25 EPS. The business'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 fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were paid 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 currently 7.16%.

Analyst Ratings Changes

META has been the topic of several recent research reports. HSBC dropped their price target on Meta Platforms from $905.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Robert W. Baird reduced their price objective on Meta Platforms from $830.00 to $750.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Citigroup increased their price objective on Meta Platforms from $895.00 to $905.00 and gave the stock a "buy" rating in a report on Thursday, October 22nd. New Street Research dropped their target price on Meta Platforms from $730.00 to $700.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Finally, Raymond James Financial boosted their target price on Meta Platforms from $650.00 to $860.00 and gave the company a "strong-buy" rating in a research note on Thursday, September 24th. 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $833.12.

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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