Meta Platforms, Inc. (NASDAQ:META - Get Free Report)'s share price dropped 2.3% during trading on Wednesday . The stock traded as low as $570.60 and last traded at $570.98. Approximately 15,427,432 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 16,236,786 shares. The stock had previously closed at $584.59.
Key Headlines Impacting Meta Platforms
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta is deepening its AI infrastructure push in India by partnering with Reliance Industries on a 168 MW AI-enabled data center, a sign it is still investing aggressively to support long-term AI growth and capacity needs. Meta ties up with Ambani's Reliance for AI data center in India
- Positive Sentiment: Several market write-ups and analyst notes remained bullish, highlighting Meta’s scale, strong cash generation, and a possible new subscription revenue stream that could add roughly $20 billion in business over time. Meta is building a new $20B business, Truist says
- Positive Sentiment: Meta continues to get support from bulls arguing the stock looks inexpensive relative to its growth, which may help stabilize sentiment after recent weakness. Wall Street Is Missing the Bigger Picture: Why This Historically Cheap Advertising Juggernaut Is a No-Brainer Buy Right Now
- Neutral Sentiment: Meta also announced workforce and training initiatives tied to its AI data-center buildout, reinforcing its infrastructure spending but not providing an immediate earnings catalyst. Meta funds skilled trades jobs program for AI data center buildout
- Neutral Sentiment: Meta remains a heavily discussed stock, but some of the recent coverage is more about valuation and investor positioning than a fresh fundamental change. Here is What to Know Beyond Why Meta Platforms, Inc. (META) is a Trending Stock
- Negative Sentiment: EU regulators ordered Meta to restore rival AI chatbot access on WhatsApp during an antitrust review, which raises the risk of limits on how Meta controls its messaging ecosystem and AI distribution. EU regulators order Meta to allow rival AI chatbots free access to WhatsApp
- Negative Sentiment: Meta and Instagram security issues are also in focus after reports that an AI bug enabled hackers to take over tens of thousands of Instagram accounts, adding another reputational and regulatory overhang. Meta A.I. Bug Allowed Hackers to Take Over Instagram Accounts
- Negative Sentiment: The company is also facing legal uncertainty after a court denied a new trial in a landmark youth social-media addiction case, keeping litigation risk on the table. Meta and Google denied new trial after landmark verdict in youth social media addiction case
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Piper Sandler assumed coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set an "overweight" rating for the company. Royal Bank Of Canada reissued an "outperform" rating and set a $810.00 price objective on shares of Meta Platforms in a research report on Monday, June 1st. JPMorgan Chase & Co. reissued a "neutral" rating and set a $725.00 price objective (down from $825.00) on shares of Meta Platforms in a research report on Thursday, April 30th. Wells Fargo & Company reduced their price objective on Meta Platforms from $770.00 to $765.00 and set an "overweight" rating for the company in a research report on Wednesday, May 20th. Finally, Morgan Stanley reduced their price objective on Meta Platforms from $825.00 to $775.00 and set an "overweight" rating for the company in a research report on Monday, March 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $840.60.
Check Out Our Latest Stock Report on Meta Platforms
Meta Platforms Trading Down 2.3%
The company has a fifty day simple moving average of $620.77 and a two-hundred day simple moving average of $636.68. 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 company has a market capitalization of $1.44 trillion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results 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 company had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. During the same period last year, the company earned $6.43 earnings per share. The business's revenue was up 33.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms's dividend payout ratio (DPR) is 7.63%.
Insider Activity
In other news, CFO Susan J. Li sold 9,195 shares of Meta Platforms stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.84, for a total value of $5,589,088.80. Following the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $8,014,978.24. The trade was a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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, CTO Andrew Bosworth sold 7,847 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer directly owned 414 shares of the company's stock, valued at $251,641.62. This represents a 94.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders have sold 41,305 shares of company stock worth $25,567,928. Insiders own 13.53% of the company's stock.
Hedge Funds Weigh In On Meta Platforms
Several large investors have recently made changes to their positions in META. Auto Owners Insurance Co lifted its position in shares of Meta Platforms by 76,587.7% during the 4th quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company's stock worth $69,502,379,000 after purchasing an additional 105,154,977 shares during the last quarter. Norges Bank bought a new position in Meta Platforms during the fourth quarter valued at about $22,152,075,000. Vanguard Group Inc. increased its stake in Meta Platforms by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company's stock valued at $132,015,115,000 after acquiring an additional 7,269,279 shares during the period. Corient Private Wealth LLC increased its stake in Meta Platforms by 488.1% during the fourth quarter. Corient Private Wealth LLC now owns 5,466,595 shares of the social networking company's stock valued at $3,608,445,000 after acquiring an additional 4,537,076 shares during the period. Finally, State Street Corp increased its stake in Meta Platforms by 5.1% during the fourth quarter. State Street Corp now owns 90,841,345 shares of the social networking company's stock valued at $59,963,463,000 after acquiring an additional 4,395,763 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.
About Meta Platforms
(
Get Free Report)
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.
Further Reading
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