Meta Platforms, Inc. $META Stock: State of Wyoming Reduces Stake

Key Points

• Wyoming cut its Meta stake by 52.3% in the third quarter, selling 3,806 shares and retaining 3,475 shares valued at about $2.52 million.
• Institutional investors and hedge funds own 79.91% of Meta shares, while analysts maintain a “Moderate Buy” consensus and an average price target of $833.12.
• Meta beat quarterly earnings expectations, reporting $7.40 in earnings per share and $64.60 billion in revenue, up 26.1% year over year.

State of Wyoming lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 52.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,475 shares of the social networking company's stock after selling 3,806 shares during the period. Meta Platforms comprises about 0.2% of State of Wyoming's portfolio, making the stock its 22nd largest holding. State of Wyoming's holdings in Meta Platforms were worth $2,520,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Advantage Trust Co purchased a new stake in Meta Platforms during the second quarter valued at about $28,000. Philadelphia Investment Partners LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter valued at approximately $32,000. Horizons Wealth Management purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $33,000. Axiom Investment Management LLC acquired a new stake in shares of Meta Platforms in the first quarter worth $36,000. Finally, Schuylkill Financial LLC acquired a new stake in shares of Meta Platforms in the second quarter worth $36,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on META. JPMorgan Chase & Co. upped their price target on Meta Platforms from $920.00 to $940.00 and gave the company an "overweight" rating in a research report on Thursday, October 22nd. DA Davidson upped their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Loop Capital lifted their target price on shares of Meta Platforms from $740.00 to $955.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. The Goldman Sachs Group reiterated a "buy" rating and set a $885.00 price objective on shares of Meta Platforms in a report on Thursday, October 22nd. Finally, Canaccord Genuity Group lifted their price target on Meta Platforms from $930.00 to $950.00 and gave the company a "buy" rating in a report on Friday, September 25th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $833.12.

Meta Platforms Price Performance

NASDAQ META opened at $605.08 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $674.18 and a 200 day simple moving average of $632.13. The company has a market cap of $1.55 trillion, a P/E ratio of 20.63, a P/E/G ratio of 1.09 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $779.82.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share for the quarter, topping analysts' consensus estimates of $6.54 by $0.86. The firm had revenue of $64.60 billion during the quarter, compared to analyst estimates of $63.34 billion. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The business's revenue was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.25 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 21st were given a $0.5250 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms's dividend payout ratio is 7.16%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, 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 transaction of $2,002,514.40. Following the sale, the chief accounting officer directly 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 transaction 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 Christopher Cox sold 40,000 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $712.76, for a total value of $28,510,400.00. Following the completion of the transaction, the insider directly owned 184,516 shares of the company's stock, valued at approximately $131,515,624.16. The trade was a 17.82% 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. Over the last three months, insiders have sold 151,090 shares of company stock valued at $103,150,807. Corporate insiders own 13.53% of the company's stock.

Key Headlines Impacting Meta Platforms

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

• Positive Sentiment: Meta made its Muse Voice AI available to U.S. users, including voice and video conversations with its consumer AI agent. Wider access could help the company build engagement with its AI products. Meta says US users can now video chat with their Muse AI avatar
• Positive Sentiment: Meta acquired Conductor, a startup that uses multiple AI agents to help build software projects, adding technology and talent to its AI development efforts. Meta acquires AI coding startup Conductor
• Neutral Sentiment: Meta completed a $15 billion senior-notes offering. Strong investor demand supports its ability to raise funds, but the borrowing adds to scrutiny of the cost of financing its AI expansion. Meta Platforms Completes $15 Billion Senior Notes Offering
• Negative Sentiment: Meta, Google and TikTok sued California’s attorney general to block a law restricting features considered addictive for users under 16. The legal challenge highlights continuing regulatory and litigation exposure around youth safety. Meta, Google, and TikTok sue California AG over teen social media law
• Negative Sentiment: Meta’s president warned that political and community opposition over data-center power and water use could make new facilities harder to build. That could complicate the infrastructure buildout needed to support AI growth. Meta warns election backlash against data centers could make AI expansion harder
• Negative Sentiment: Coverage of Meta’s debut euro bond sale pointed to borrowing costs above Alphabet’s, adding to investor concern about the expense of funding the company’s large AI spending plans. Meta Paid 1.4 Times What Alphabet Did to Borrow in Euros
• Negative Sentiment: Delhi Police filed a case concerning child sexual abuse material on Meta’s platforms after intervention by India’s child-rights authorities, creating potential reputational and legal risk. Child Abuse Material On Meta Platforms Flagged, Delhi Police Files FIR After NHRC Intervention

About Meta Platforms

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company's principal platforms include Facebook, Instagram, Messenger, WhatsApp, and Threads, which enable users to connect, communicate, share content, and discover products and services.

Meta also operates Reality Labs, its division focused on virtual, augmented, and mixed reality technologies. Reality Labs develops products such as Meta Quest virtual reality headsets and related software and experiences, along with research and hardware intended to support immersive computing.

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