Meta Platforms, Inc. $META Holdings Lessened by Codex Capital Asset Management L.L.C.

Codex Capital Asset Management L.L.C. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,500 shares of the social networking company’s stock after selling 2,100 shares during the quarter. Meta Platforms makes up about 6.1% of Codex Capital Asset Management L.L.C.’s holdings, making the stock its 4th largest position. Codex Capital Asset Management L.L.C.’s holdings in Meta Platforms were worth $16,832,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Westchester Capital Management Inc. purchased a new position in shares of Meta Platforms during the third quarter worth about $26,000. RHL Group LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth about $28,000. Strategic Wealth Advisors LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth about $29,000. Key Capital Management INC purchased a new position in shares of Meta Platforms during the fourth quarter worth about $48,000. Finally, Entrust Financial LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Key Headlines Impacting Meta Platforms

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

• Positive Sentiment: Meta’s new AI Mode in Facebook Search and related AI tools could open a new monetization stream and improve engagement across its apps. Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Positive Sentiment: Bank of America reiterated a Buy rating, saying Meta’s AI strategy remains a key growth catalyst. BofA Reiterates Buy Rating on Meta Platforms (META) Cites AI Strategy a Key Growth Catalyst
• Positive Sentiment: Threads reached 500 million monthly active users, highlighting continued platform growth and stronger user engagement. Meta’s Threads reaches 500 million monthly users, rolls out new features
• Neutral Sentiment: Meta’s CTO said morale in the AI unit is near historic lows, which may reflect execution challenges even as the company doubles down on AI. Meta’s CTO says morale is almost ‘the worst it’s ever been’
• Negative Sentiment: Apple’s upcoming AI-powered AirPods and smart glasses could intensify competition in the AI wearables market, potentially challenging Meta’s device strategy. Apple to launch AI-juiced AirPods and sunglasses, going head-to-head with Meta
• Negative Sentiment: Reports of consumer-protection lawsuits in Europe add another regulatory overhang for Meta. Consumer Protection: Three Chances for Damages from Meta Platforms

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 837 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $629.29, for a total value of $526,715.73. Following the completion of the sale, the chief operating officer owned 12,986 shares in the company, valued at $8,171,959.94. This trade represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the sale, the chief financial officer owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. The trade was a 41.08% 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. Insiders have sold 39,170 shares of company stock valued at $24,218,565 over the last 90 days. Insiders own 13.53% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $600.21 on Wednesday. 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 cap of $1.52 trillion, a P/E ratio of 21.82, a PEG ratio of 1.05 and a beta of 1.23. 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 price of $622.04 and a 200 day moving average price of $635.51.

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

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be given 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 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on META shares. Susquehanna upgraded shares of Meta Platforms from a “positive” rating to a “positive” rating in a research note on Tuesday, June 2nd. Morgan Stanley decreased their target price on shares of Meta Platforms from $825.00 to $775.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Benchmark started coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They set a “buy” rating for the company. KeyCorp reiterated an “overweight” rating and set a $760.00 target price on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, Guggenheim decreased their target price 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 research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $840.60.

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.