Meta Platforms, Inc. $META is Peregrine Investment Management Inc.’s 4th Largest Position

Peregrine Investment Management Inc. raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 24.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 13,770 shares of the social networking company’s stock after buying an additional 2,680 shares during the period. Meta Platforms accounts for approximately 6.2% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 4th largest position. Peregrine Investment Management Inc.’s holdings in Meta Platforms were worth $7,878,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Westchester Capital Management Inc. purchased a new stake in Meta Platforms in the 3rd quarter valued at $26,000. RHL Group LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $29,000. Niles Investment Management LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $29,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $42,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $593.00 on Monday. The business has a 50-day moving average of $618.83 and a 200 day moving average of $636.81. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35.

Meta Platforms (NASDAQ:META) last announced its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $55.56 billion. During the same period last year, the business posted $6.43 EPS. Meta Platforms’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a dividend of $0.525 per share. 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 (DPR) is 7.63%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Cantor Fitzgerald dropped their target price on Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Meta Platforms in a research note on Friday, March 27th. Benchmark assumed coverage on Meta Platforms in a research note on Tuesday, June 2nd. They issued a “buy” rating on the stock. Barclays upped 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. Finally, Sanford C. Bernstein decreased their price target on Meta Platforms from $900.00 to $850.00 and set an “outperform” rating on the stock 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $840.60.

Key Stories Impacting Meta Platforms

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

• Negative Sentiment: Meta is reportedly weighing a large stock sale to fund AI infrastructure, sparking dilution concerns and pressuring the shares. Article: Meta weighs big equity raising after blockbuster Google deal
• Negative Sentiment: Meta’s AI rollout has faced another delay, with the Muse Spark developer API still lacking a launch date, raising questions about when the company can monetize its AI investments. Article: Meta repeatedly pushes back new AI model release for developers
• Negative Sentiment: Privacy concerns resurfaced after reports that Meta smart glasses could use facial-recognition-style “faceprint” tracking, which could invite regulatory scrutiny and consumer backlash. Article: Code Reveals Meta Smart Glasses Can Use ‘Faceprint’ Tracking, Raising Privacy Alarms
• Negative Sentiment: Meta is also battling renewed policy and legal pressure in Australia over proposed payments for news, adding another regulatory overhang. Article: Meta accuses Australia of breaching FTA, invokes US ‘trade action’
• Neutral Sentiment: Meta continues to receive bullish long-term commentary from some analysts and investors who view it as a major AI and advertising platform, but that optimism is being overshadowed today by funding and execution concerns. Article: Analyst Sees Multi-Billion Dollar Potential In Meta Platforms’ Subscription Model

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at $8,014,978.24. This trade represents a 41.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 2,778 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $629.45, for a total value of $1,748,612.10. Following the transaction, the chief operating officer owned 10,557 shares of the company’s stock, valued at $6,645,103.65. This trade represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over 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.

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.