State of Alaska Department of Revenue Sells 6,290 Shares of Meta Platforms, Inc. $META

Key Points

• Alaska’s Department of Revenue reduced its Meta position by 2.3%, selling 6,290 shares and retaining 265,945 shares valued at approximately $192.9 million. Meta remains the fund’s 11th-largest holding and represents 1.8% of its portfolio.
• Meta shares fell 3.7% to $709.33 during Friday trading, though the stock remains widely held by institutions, which own 79.91% of outstanding shares. The company reported quarterly revenue of $60.8 billion, but earnings per share of $6.18 missed the $7.19 analyst consensus.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $808.88. However, investors are watching rising AI infrastructure spending, regulatory and tax scrutiny, and upcoming third-quarter results for potential risks.

State of Alaska Department of Revenue trimmed its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 265,945 shares of the social networking company's stock after selling 6,290 shares during the quarter. Meta Platforms accounts for 1.8% of State of Alaska Department of Revenue's holdings, making the stock its 11th largest holding. State of Alaska Department of Revenue's holdings in Meta Platforms were worth $192,857,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Auto Owners Insurance Co increased its stake in shares of Meta Platforms by 76,587.7% in the 4th quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company's stock valued at $69,502,379,000 after purchasing an additional 105,154,977 shares during the last quarter. State Street Corp raised its holdings in shares of Meta Platforms by 4.0% during the 2nd quarter. State Street Corp now owns 92,033,963 shares of the social networking company's stock worth $51,841,811,000 after buying an additional 3,510,123 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Meta Platforms by 14.6% during the 1st quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company's stock worth $12,036,491,000 after buying an additional 2,673,494 shares during the last quarter. Invesco Ltd. lifted its position in shares of Meta Platforms by 6.1% during the 4th quarter. Invesco Ltd. now owns 18,200,469 shares of the social networking company's stock worth $12,013,948,000 after buying an additional 1,046,715 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Meta Platforms by 1.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,836,063 shares of the social networking company's stock valued at $7,230,426,000 after buying an additional 162,909 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Down 3.7%

Shares of NASDAQ:META traded down $27.39 during mid-day trading on Friday, reaching $709.33. 20,582,358 shares of the company's stock were exchanged, compared to its average volume of 22,124,532. The firm has a market capitalization of $1.81 trillion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.27 and a beta of 1.19. The business's fifty day moving average price is $655.78 and its 200-day moving average price is $625.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $779.82.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share for the quarter, missing analysts' consensus estimates of $7.19 by ($1.01). The company had revenue of $60.80 billion during the quarter, compared to analyst estimates of $60.22 billion. Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The business's revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.14 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 28.15 EPS for the current fiscal 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 given a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 21st. Meta Platforms's payout ratio is 7.91%.

Insider Buying and Selling at Meta Platforms

In other news, insider Christopher Cox sold 40,000 shares of the stock in a transaction dated 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 sale, the insider owned 184,516 shares of the company's stock, valued at approximately $131,515,624.16. This represents a 17.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 946 shares of the firm's stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $728.10, for a total value of $688,782.60. Following the transaction, the chief operating officer owned 6,932 shares of the company's stock, valued at $5,047,189.20. This trade represents a 12.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 149,797 shares of company stock worth $102,180,385. Insiders own 13.53% of the company's stock.

Meta Platforms News Summary

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

• Positive Sentiment: Bank of America expects Meta to exceed third-quarter revenue expectations, forecasting $63.8 billion versus a $63.3 billion consensus estimate, and maintained a Buy rating with an $810 price target. Meta expected to beat revenue forecasts as AI boosts advertising, says Bank of America
• Positive Sentiment: Meta released the open-weight Muse Spark model for coding and AI-agent tasks, while its collaboration with Apple enables developers to run the model locally on high-end Mac computers. The developments could broaden adoption of Meta’s AI technology and reduce reliance on cloud infrastructure. Meta releases open-weight Muse Spark model
• Positive Sentiment: JPMorgan reaffirmed its Overweight rating and set a $920 price target, implying substantial upside, while other analysts including KeyCorp and Rosenblatt also maintained positive ratings. JPMorgan reaffirms Meta rating
• Neutral Sentiment: Meta is expected to report third-quarter results on October 21. Investors will focus on advertising growth, user metrics, profitability, capital expenditures, and management’s outlook for AI infrastructure spending. Meta Q3 earnings estimates
• Neutral Sentiment: Meta withdrew $25 million from a previously announced $65 million effort to support political candidates considered favorable to the AI industry. The move may reduce near-term spending but signals a change in its political strategy. Meta Withdraws $25 Million from Its Midterms Push
• Negative Sentiment: Analyst-related pressure is weighing on the stock after Goldman Sachs lowered its expectations and Meta was reported down following an analyst downgrade, countering the more bullish JPMorgan view. Meta stock price down on analyst downgrade
• Negative Sentiment: Investors remain concerned that AI infrastructure spending could reach approximately $205 billion in 2027. Heavy capital expenditures are reducing free cash flow, while potential legal charges and regulatory scrutiny add to earnings risk. Meta AI spending could hit $205 billion
• Negative Sentiment: Seven U.S. senators are questioning Meta’s claim of $6.6 billion in research tax credits for AI data centers, creating potential tax liability and reputational risk. Senators question Meta AI data-center tax credits

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Canaccord Genuity Group lifted their target price on Meta Platforms from $930.00 to $950.00 and gave the company a "buy" rating in a research report on Friday, September 25th. Royal Bank Of Canada reissued an "outperform" rating and issued a $770.00 target price on shares of Meta Platforms in a report on Thursday, September 24th. HSBC reduced their price target on shares of Meta Platforms from $905.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings raised shares of Meta Platforms from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Finally, Phillip Securities raised shares of Meta Platforms from a "buy" rating to a "strong-buy" rating and decreased their price target for the company from $795.00 to $750.00 in a report on Monday, August 3rd. Three research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $808.88.

Meta Platforms Company Profile

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company operates a global family of apps that includes Facebook, Instagram, Messenger, WhatsApp and Threads, enabling users to connect, communicate, share content and discover communities.

Meta generates most of its business through digital advertising displayed across its platforms. Its products serve individuals, creators, businesses and organizations in markets around the world, while its advertising tools help businesses reach audiences based on factors such as interests, activity and demographics.

Through its Reality Labs division, Meta develops virtual and augmented reality hardware, software and services, including the Meta Quest line of headsets and related experiences.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.