New Millennium Group LLC Has $10.49 Million Position in Meta Platforms, Inc. $META

Key Points

• New Millennium Group LLC increased its Meta Platforms stake by 11.6% in the fourth quarter, ending with 15,889 shares valued at about $10.49 million. Meta now makes up roughly 4.5% of the firm’s portfolio and is its sixth-largest holding.
• Meta posted strong quarterly results, with earnings of $10.44 per share versus estimates of $6.67 and revenue of $56.31 billion, up 33.1% year over year. The company also raised attention for its growing AI strategy, with analysts and news outlets highlighting its monetization potential and execution in AI.
• Despite the bullish backdrop, Meta shares were down 5.1% in the article, and there was notable insider selling, including transactions by CTO Andrew Bosworth and COO Javier Olivan. Even so, Wall Street sentiment remains constructive, with a consensus rating of Moderate Buy and an average price target of $840.19.

New Millennium Group LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,889 shares of the social networking company's stock after buying an additional 1,650 shares during the quarter. Meta Platforms comprises approximately 4.5% of New Millennium Group LLC's investment portfolio, making the stock its 6th biggest holding. New Millennium Group LLC's holdings in Meta Platforms were worth $10,488,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Westchester Capital Management Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $26,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $29,000. Key Capital Management INC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $48,000. Entrust Financial LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $48,000. Finally, Fairway Wealth LLC grew its position in shares of Meta Platforms by 36.8% during the 4th quarter. Fairway Wealth LLC now owns 78 shares of the social networking company's stock worth $51,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Trending Headlines about Meta Platforms

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

• Positive Sentiment: Royal Bank of Canada reaffirmed its Outperform rating on Meta and set an $810 price target, signaling meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: A new AI adoption study ranked Meta among the top S&P 500 companies for AI execution, reinforcing the view that its AI investments are becoming strategically important. CNBC
• Positive Sentiment: Bank of America reiterated a Buy rating and said Meta’s AI monetization and enterprise adoption could help offset concerns about rising spending. Yahoo Finance / Investing.com
• Positive Sentiment: Several outlets highlighted Meta as a top AI and virtual reality stock, adding to the longer-term bullish narrative around its product pipeline and AI push. Motley Fool

Meta Platforms Stock Down 5.1%

Meta Platforms stock opened at $600.47 on Tuesday. The company's 50 day simple moving average is $617.71 and its 200 day simple moving average is $636.73. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The firm has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.12 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data 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. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. During the same quarter last year, the firm earned $6.43 EPS. Meta Platforms's quarterly revenue was up 33.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio is currently 7.63%.

Insider Activity at Meta Platforms

In other news, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares of the company's stock, valued at $251,641.62. This represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, COO Javier Olivan sold 837 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $608.98, for a total transaction of $509,716.26. Following the sale, the chief operating officer directly owned 13,823 shares of the company's stock, valued at $8,417,930.54. This represents a 5.71% 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 40,890 shares of company stock worth $25,315,558 over the last three months. 13.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Guggenheim lowered their price target on shares of Meta Platforms from $850.00 to $800.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. UBS Group lowered their price target on shares of Meta Platforms from $908.00 to $865.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Meta Platforms in a research report on Friday, March 27th. Argus reiterated a "buy" rating and set a $800.00 price target on shares of Meta Platforms in a research report on Monday, February 2nd. Finally, Wall Street Zen lowered shares of Meta Platforms from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $840.19.

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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