My Personal CFO LLC Has $225,000 Stake in Meta Platforms, Inc. $META

My Personal CFO LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 71.8% in the first quarter, Holdings Channel reports. The fund owned 394 shares of the social networking company’s stock after selling 1,001 shares during the quarter. My Personal CFO LLC’s holdings in Meta Platforms were worth $225,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. RHL Group LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth $29,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $42,000. Key Capital Management INC acquired a new position in shares of Meta Platforms during the fourth quarter worth $48,000. Finally, Entrust Financial LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at $48,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms News Roundup

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

• Positive Sentiment: Reports that Meta is developing a cloud business to sell excess AI computing capacity and AI model access lifted the stock, since it could turn prior AI spending into near-term revenue and reduce reliance on ads.
• Positive Sentiment: Wall Street reaction has been broadly constructive, with traders rotating into Meta while some AI infrastructure rivals sold off on fears of new competition from a company with major scale and cash flow.
• Neutral Sentiment: Meta also named Alex Schultz as its first chief data officer and promoted Denise Moreno to chief marketing officer, a management change aimed at improving data-driven decision-making in the AI era.
• Neutral Sentiment: Unusually heavy call-option activity showed traders positioning for more upside, reinforcing the market’s bullish tone but not changing the fundamental story by itself.
• Negative Sentiment: Separately, Meta lost a bid to dismiss a multistate lawsuit alleging Facebook and Instagram are addictive to children, keeping a legal overhang in place.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on META shares. Wall Street Zen downgraded Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Barclays lifted their price target on Meta Platforms from $800.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Mizuho lowered their price objective on Meta Platforms from $850.00 to $835.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. KeyCorp reiterated an “overweight” rating and issued a $760.00 price objective on shares of Meta Platforms in a report on Thursday, April 30th. Finally, Wedbush upgraded shares of Meta Platforms from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $840.60.

Meta Platforms Trading Up 8.8%

META opened at $612.91 on Thursday. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25. 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 fifty day moving average of $606.34 and a 200-day moving average of $628.95. The stock has a market cap of $1.55 trillion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25.

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

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms’s payout ratio is currently 7.63%.

Insiders Place Their Bets

In related news, CTO Andrew Bosworth sold 7,847 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the sale, the chief technology officer owned 414 shares in the company, valued at $251,641.62. This represents a 94.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 firm’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 value of $1,748,612.10. Following the sale, the chief operating officer directly owned 10,557 shares of the company’s stock, valued at $6,645,103.65. This represents a 20.83% 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. Insiders sold 39,013 shares of company stock valued at $24,115,999 over the last 90 days. 13.53% of the stock is owned by company insiders.

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.