Pilgrim Partners Asia Pte Ltd Sells 900 Shares of Meta Platforms, Inc. $META

Key Points

• Pilgrim Partners Asia reduced its Meta stake by 29.7%, selling 900 shares in the third quarter. It held 2,130 shares, valued at about $1.545 million, after the sale.
• Meta beat quarterly earnings and revenue expectations, reporting EPS of $7.40 and revenue of $64.60 billion; revenue rose 26.1% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average target price of $833.12.
• Meta’s AI expansion has potential tailwinds from new consumer AI features and advertising applications, but data-center constraints, political backlash, and legal challenges over teen social-media rules pose risks.

Pilgrim Partners Asia Pte Ltd cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 29.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,130 shares of the social networking company's stock after selling 900 shares during the period. Meta Platforms accounts for 0.3% of Pilgrim Partners Asia Pte Ltd's holdings, making the stock its 23rd biggest holding. Pilgrim Partners Asia Pte Ltd's holdings in Meta Platforms were worth $1,545,000 as of its most recent SEC filing.

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

Key Headlines Impacting Meta Platforms

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

Shares of Meta Platforms stock traded up $5.07 during trading on Friday, hitting $610.15. 15,673,971 shares of the company's stock were exchanged, compared to its average volume of 23,359,418. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 20.80, a PEG ratio of 1.05 and a beta of 1.28. The business has a 50-day simple moving average of $674.97 and a 200-day simple moving average of $632.16. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $779.82. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.86. The company had revenue of $64.60 billion for the quarter, compared to the consensus estimate of $63.34 billion. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The firm'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 EPS. On average, research analysts forecast that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Announces Dividend

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 $0.5250 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's payout ratio is presently 7.16%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 946 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $614.15, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 151,090 shares of company stock valued at $103,150,807. Corporate insiders own 13.53% of the company's stock.

Analyst Upgrades and Downgrades

META has been the topic of several research analyst reports. CICC Research reduced their target price on Meta Platforms from $773.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Yorkville Ives started coverage on Meta Platforms in a research note on Tuesday, October 6th. They set an "outperform" rating and a $900.00 price target on the stock. Raymond James Financial upped their price objective on shares of Meta Platforms from $650.00 to $860.00 and gave the company a "strong-buy" rating in a report on Thursday, September 24th. Barclays lifted their target price on shares of Meta Platforms from $780.00 to $880.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Finally, Monness Crespi & Hardt reaffirmed a "buy" rating and issued a $875.00 price target on shares of Meta Platforms in a report on Thursday, October 22nd. Three 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $833.12.

Meta Platforms 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.

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.

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