State of Wyoming cut its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 42.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,705 shares of the social networking company’s stock after selling 4,203 shares during the period. Meta Platforms makes up 0.4% of State of Wyoming’s portfolio, making the stock its 15th largest position. State of Wyoming’s holdings in Meta Platforms were worth $3,766,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Intellectus Partners LLC lifted its stake in Meta Platforms by 21.6% in the fourth quarter. Intellectus Partners LLC now owns 23,252 shares of the social networking company’s stock worth $15,348,000 after purchasing an additional 4,123 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Meta Platforms by 31.3% in the fourth quarter. Sivia Capital Partners LLC now owns 8,433 shares of the social networking company’s stock worth $5,567,000 after purchasing an additional 2,009 shares during the last quarter. Greenspring Advisors LLC lifted its stake in Meta Platforms by 1,596.9% in the fourth quarter. Greenspring Advisors LLC now owns 5,006 shares of the social networking company’s stock worth $3,304,000 after purchasing an additional 4,711 shares during the last quarter. Disciplined Investors L.L.C. lifted its stake in Meta Platforms by 6.6% in the fourth quarter. Disciplined Investors L.L.C. now owns 553 shares of the social networking company’s stock worth $365,000 after purchasing an additional 34 shares during the last quarter. Finally, Evolution Wealth Management Inc. lifted its stake in Meta Platforms by 31.6% in the fourth quarter. Evolution Wealth Management Inc. now owns 208 shares of the social networking company’s stock worth $138,000 after purchasing an additional 50 shares during the last quarter. 79.91% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
META has been the subject of several recent research reports. Bank of America lowered their price target on shares of Meta Platforms from $885.00 to $820.00 and set a “buy” rating for the company in a research note on Monday, April 20th. TD Cowen lowered their price objective on shares of Meta Platforms from $820.00 to $800.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Piper Sandler started coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They set an “overweight” rating for the company. Mizuho lowered their price objective on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Finally, Guggenheim lowered their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $840.60.
Meta Platforms Price Performance
Shares of NASDAQ META opened at $570.98 on Thursday. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year 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 company’s 50-day moving average is $621.46 and its 200 day moving average is $636.55. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 20.76, a P/E/G ratio of 1.04 and a beta of 1.23.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly 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 company had revenue of $56.31 billion for the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. Meta Platforms’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.43 earnings per share. On average, sell-side analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms’s dividend payout ratio is 7.63%.
Insiders Place Their Bets
In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 13,186 shares in the company, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 837 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $629.29, for a total transaction of $526,715.73. Following the completion of the sale, the chief operating officer owned 12,986 shares in the company, valued at approximately $8,171,959.94. This trade represents a 6.06% decrease in their position. 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 41,305 shares of company stock valued at $25,567,928. Insiders own 13.53% of the company’s stock.
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
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.
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