Meta Platforms, Inc. $META is Altimeter Capital Management LP’s 2nd Largest Position

Altimeter Capital Management LP decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,845,368 shares of the social networking company’s stock after selling 20,570 shares during the quarter. Meta Platforms makes up about 18.3% of Altimeter Capital Management LP’s investment portfolio, making the stock its 2nd largest position. Altimeter Capital Management LP’s holdings in Meta Platforms were worth $1,218,109,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after acquiring an additional 570 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after purchasing an additional 875 shares in the last quarter. Headwater Capital Co Ltd grew its position in shares of Meta Platforms by 294.7% in the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after purchasing an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in shares of Meta Platforms in the second quarter valued at about $213,000. Finally, Capital & Planning LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at about $322,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. Wall Street Zen downgraded shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Truist Financial dropped their price target on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Wolfe Research dropped their price target on shares of Meta Platforms from $850.00 to $800.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. Guggenheim dropped their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $810.00 price objective on shares of Meta Platforms in a report on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $840.60.

Meta Platforms Stock Down 5.4%

Shares of Meta Platforms stock opened at $567.58 on Thursday. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The company has a 50 day moving average of $621.93 and a 200 day moving average of $635.05. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.44 trillion, a P/E ratio of 20.63, a P/E/G ratio of 1.06 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same quarter in the previous year, the firm earned $6.43 earnings per share. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. Meta Platforms’s payout ratio is currently 7.63%.

Insider Activity

In related news, CFO Susan J. Li sold 9,195 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.84, for a total value of $5,589,088.80. Following the completion of the transaction, the chief financial officer owned 13,186 shares in the company, valued at $8,014,978.24. The trade was a 41.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the sale, the chief operating officer owned 10,557 shares of the company’s stock, valued at $6,645,103.65. This represents a 20.83% 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 have sold 40,568 shares of company stock worth $25,057,365 over the last three months. 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: Meta said Threads has reached 500 million monthly active users, while new community features and feed controls could improve engagement and strengthen the long-term value of its social platform. Reuters: Meta’s Threads reaches 500 million monthly users, rolls out new features
• Positive Sentiment: Meta rolled out AI search and creative tools across Facebook, which analysts say could open a new monetization opportunity and support future ad growth. Proactive Investors: Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Positive Sentiment: Bank of America reiterated a Buy view on Meta, citing AI strategy as a key growth catalyst, which may help support investor confidence in the company’s long-term earnings potential. Insider Monkey: BofA reiterates Buy rating on Meta Platforms
• Neutral Sentiment: Meta is expected to pay its next quarterly dividend next week, a routine shareholder return that is supportive but unlikely to be a major near-term stock driver. Finbold: Meta to pay dividends next week
• Negative Sentiment: Reuters reported that a Meta executive overseeing part of the company’s AI-for-work restructuring is leaving, adding to concerns about execution during a major AI transition. Reuters: Meta head of product for ‘AI for work’ transformation is leaving company
• Negative Sentiment: Two SEC filings showed COO Javier Olivan sold shares under a pre-arranged 10b5-1 plan, which can still weigh on sentiment even though the sales were scheduled. SEC filing for Javier Olivan transaction
• Negative Sentiment: Recent commentary has also focused on Meta’s heavy AI spending, Reality Labs losses, and valuation concerns, reinforcing fears that profit growth could slow if investment remains elevated. Zacks: Meta Platforms is Overvalued at 5.5X PS

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.