Meta Platforms, Inc. $META Shares Sold by Harmony Asset Management LLC

Harmony Asset Management LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 37.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,126 shares of the social networking company’s stock after selling 2,449 shares during the period. Meta Platforms comprises 0.9% of Harmony Asset Management LLC’s holdings, making the stock its 26th biggest position. Harmony Asset Management LLC’s holdings in Meta Platforms were worth $2,724,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Taylor Financial Group Inc. boosted its holdings in shares of Meta Platforms by 30.7% in the 4th quarter. Taylor Financial Group Inc. now owns 703 shares of the social networking company’s stock valued at $464,000 after acquiring an additional 165 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC grew its position in Meta Platforms by 12.0% during the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 3,747 shares of the social networking company’s stock worth $2,473,000 after purchasing an additional 402 shares during the period. Aspen Investment Management Inc grew its position in Meta Platforms by 142.7% during the 4th quarter. Aspen Investment Management Inc now owns 1,046 shares of the social networking company’s stock worth $690,000 after purchasing an additional 615 shares during the period. Burling Wealth Partners LLC grew its position in Meta Platforms by 16.4% during the 4th quarter. Burling Wealth Partners LLC now owns 19,030 shares of the social networking company’s stock worth $12,562,000 after purchasing an additional 2,687 shares during the period. Finally, Sierra Summit Advisors LLC grew its position in Meta Platforms by 3.0% during the 4th quarter. Sierra Summit Advisors LLC now owns 20,126 shares of the social networking company’s stock worth $13,285,000 after purchasing an additional 585 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on META shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Meta Platforms in a research report on Friday, March 27th. UBS Group reduced their price target on Meta Platforms from $908.00 to $865.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Morgan Stanley reduced their price target 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. Erste Group Bank cut Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $1,015.00 price target on shares of Meta Platforms in a research report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $840.19.

More Meta Platforms News

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

• Positive Sentiment: Meta launched paid subscription plans across its flagship apps and Meta AI, opening a new monetization path that could reduce reliance on ad revenue. Mark Zuckerberg says a Meta cloud computing business ‘definitely on the table’
• Positive Sentiment: Analysts and market commentators are pointing to the subscription push as a meaningful upside driver, with some estimating it could add billions in annual revenue if adoption is strong. Meta’s Subscription Push Could Add $13.5 Billion By 2028 Across Instagram, Facebook, WhatsApp
• Neutral Sentiment: Meta also said it may eventually use excess AI/data-center capacity for a cloud business, which adds long-term optionality but is still early-stage. Mark Zuckerberg says a Meta cloud computing business ‘definitely on the table’
• Neutral Sentiment: The company declared a quarterly dividend, which is modest but reinforces capital-return strength. Meta Announces Quarterly Cash Dividend
• Negative Sentiment: Reuters reported Meta’s employee mouse-click tracking tool for AI training may run into EU privacy concerns, creating regulatory risk around data collection and cross-border use. Exclusive: Meta tool to track employee mouse clicks on collision course with EU privacy rules
• Negative Sentiment: Recent commentary from Jim Cramer and disclosures of insider selling add some caution around execution and valuation. Jim Cramer Says Meta “Has Not Excelled in a Visible Way”

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 7,847 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares of the company’s stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 837 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $608.98, for a total transaction of $509,716.26. Following the completion of the sale, the chief operating officer directly owned 13,823 shares of the company’s stock, valued at approximately $8,417,930.54. The trade was a 5.71% 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 sold a total of 42,445 shares of company stock worth $26,306,420 in the last quarter. 13.53% of the stock is owned by insiders.

Meta Platforms Trading Down 0.4%

META stock opened at $632.51 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The company’s 50-day simple moving average is $617.84 and its 200-day simple moving average is $636.88. The firm has a market cap of $1.60 trillion, a P/E ratio of 22.99, a PEG ratio of 1.12 and a beta of 1.25.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 EPS 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. Meta Platforms’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, equities analysts forecast that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared 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 0.3%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s payout ratio is presently 7.63%.

Meta Platforms Profile

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.