Prestige Wealth Management Group LLC Has $2.56 Million Stock Holdings in Meta Platforms, Inc. $META

Key Points

• Prestige Wealth Management Group reduced its Meta Platforms stake by 43.4% in the fourth quarter, selling 2,976 shares and leaving it with 3,876 shares worth about $2.56 million.
• Meta continues to draw mostly bullish analyst coverage, with an average “Moderate Buy” rating and a consensus price target of $840.60, though UBS recently downgraded the stock to neutral.
• The company is seeing both growth and risk headlines: analysts are highlighting its AI and subscription potential, but Meta also faces regulatory pressure in the EU and other platform-security/legal concerns.

Prestige Wealth Management Group LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 43.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,876 shares of the social networking company's stock after selling 2,976 shares during the quarter. Prestige Wealth Management Group LLC's holdings in Meta Platforms were worth $2,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Westchester Capital Management Inc. bought a new position in Meta Platforms in the third quarter valued at about $26,000. RHL Group LLC bought a new position in Meta Platforms in the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC bought a new position in Meta Platforms in the fourth quarter valued at about $29,000. Key Capital Management INC bought a new position in Meta Platforms in the fourth quarter valued at about $48,000. Finally, Entrust Financial LLC bought a new position in Meta Platforms in the fourth quarter valued at about $48,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on Meta Platforms from $770.00 to $765.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Weiss Ratings reiterated a "buy (b)" rating on shares of Meta Platforms in a report on Friday, March 27th. Guggenheim decreased their price target on Meta Platforms from $850.00 to $800.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. UBS Group cut Meta Platforms from a "buy" rating to a "neutral" rating in a report on Tuesday, June 2nd. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $1,015.00 price target on shares of Meta Platforms in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $840.60.

Key Meta Platforms News

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

• Positive Sentiment: Analysts and bullish commentators reiterated that Meta may be building a large new subscription opportunity and that the stock still screens as attractive versus its growth potential. Truist says Meta has found its next $20 billion business, stock set to gain more than 40%
• Positive Sentiment: Meta announced a major AI data center lease in India with Reliance Industries, signaling continued infrastructure investment to support its long-term AI strategy and global scale. EU regulators order Meta to allow rival AI chatbots free access to WhatsApp
• Positive Sentiment: Several research pieces highlighted Meta as a long-term AI and advertising winner, arguing that the market may be discounting the value of its AI investments too harshly. Meta: The Market's Perception On AI CapEx Seems Misplaced
• Neutral Sentiment: Meta drew additional attention after being named in “best stocks to buy” and “forever stock” lists, which may support sentiment but is not a company-specific catalyst by itself. 5 Best Forever Stocks to Buy According to Analysts
• Negative Sentiment: EU regulators ordered Meta to restore WhatsApp access for rival AI chatbots during an antitrust probe, adding another regulatory overhang to the company’s AI and messaging strategy. EU regulators order Meta to allow rival AI chatbots free access to WhatsApp
• Negative Sentiment: Reports of an AI-related Instagram security bug and a landmark youth social-media addiction case increase legal, reputational, and platform-risk concerns. Meta A.I. Bug Allowed Hackers to Take Over Instagram Accounts

Meta Platforms Trading Down 2.3%

NASDAQ:META opened at $570.98 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a market capitalization of $1.44 trillion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23. The business's 50-day simple moving average is $621.46 and its 200-day simple moving average is $636.55.

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, beating the consensus estimate of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business had revenue of $56.31 billion for the quarter, compared to analysts' expectations of $55.56 billion. During the same quarter in the previous year, the business posted $6.43 EPS. Meta Platforms's revenue for the quarter was up 33.1% on a year-over-year basis. Sell-side analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms's payout ratio is 7.63%.

Insider Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 7,847 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the sale, the chief technology officer directly owned 414 shares of the company's stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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, Director Robert M. Kimmitt sold 504 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $629.29, for a total transaction of $317,162.16. Following the completion of the transaction, the director directly owned 3,943 shares of the company's stock, valued at approximately $2,481,290.47. The trade was a 11.33% decrease in their ownership of the stock. 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 a total of 41,305 shares of company stock valued at $25,567,928 over the last quarter. 13.53% of the stock is currently owned by corporate insiders.

Meta Platforms Company Profile

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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