4,317 Shares in Meta Platforms, Inc. $META Bought by Vericrest Private Wealth

Vericrest Private Wealth bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,317 shares of the social networking company’s stock, valued at approximately $2,850,000. Meta Platforms comprises 2.5% of Vericrest Private Wealth’s holdings, making the stock its 14th biggest holding.

Several other institutional investors have also recently bought and sold shares of META. Westchester Capital Management Inc. bought a new stake in Meta Platforms during the 3rd quarter valued at approximately $26,000. RHL Group LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $28,000. Strategic Wealth Advisors LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $29,000. Niles Investment Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $29,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $42,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $577.22 on Monday. The company has a market capitalization of $1.46 trillion, a PE ratio of 20.98, a P/E/G ratio of 1.02 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 debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The company’s fifty day moving average is $621.27 and its 200-day moving average is $634.10.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The firm 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%. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.43 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms’s dividend payout ratio is presently 7.63%.

Insider Activity

In related news, COO Javier Olivan sold 140 shares of Meta Platforms stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $600.00, for a total value of $84,000.00. Following the completion of the transaction, the chief operating officer directly owned 12,846 shares of the company’s stock, valued at $7,707,600. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 504 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 $317,162.16. Following the transaction, the director owned 3,943 shares in the company, valued at approximately $2,481,290.47. This trade represents a 11.33% 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. Over the last ninety days, insiders sold 39,013 shares of company stock worth $24,115,999. 13.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on META. Guggenheim lowered their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. BNP Paribas Exane began coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They issued an “outperform” rating for the company. Mizuho decreased their target price on Meta Platforms from $850.00 to $835.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. The Goldman Sachs Group lowered Meta Platforms from a “buy” rating to a “sell” rating in a research note on Tuesday, June 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $810.00 price target on shares of Meta Platforms in a report on Monday, June 1st. Three research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $840.60.

Key Headlines Impacting Meta Platforms

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

• Positive Sentiment: Wall Street commentary remains constructive on Meta’s long-term AI strategy, with Evercore ISI’s Mark Mahaney naming META one of the best “Magnificent 7” stock buys, reinforcing the view that the stock may still offer upside after its recent pullback. Article: Famous Wall Street Tech Analyst Names Meta and Amazon the Best Magnificent 7 Stock Buys Today
• Positive Sentiment: Meta continues to expand its AI infrastructure, including new computing deals with Crusoe and a strategic data-center partnership in India, which supports the company’s long-term AI capacity and monetization plans. Article: Meta signs new AI computing deals with data center firm Crusoe
• Positive Sentiment: Meta also drew favorable attention for rolling out new AI features for Facebook creators and broader AI tools that could deepen engagement and create new ad products over time. Article: Meta Platforms Rolls Out New AI Features On Facebook For Content Creators
• Neutral Sentiment: Meta continues to get attention for its cloud-computing ambitions, but that move is still viewed as a longer-term optionality story rather than an immediate earnings driver. Article: Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
• Neutral Sentiment: Meta’s strong last reported quarter and upcoming dividend remain supportive, but these are already well known and are not the main catalysts behind today’s trading. Article: META stock and company profile
• Negative Sentiment: Sentiment was hurt by reports that a senior AI executive is leaving Meta during a major AI transition, raising execution concerns at a time when the company is trying to accelerate its artificial intelligence roadmap. Article: Meta head of product for ‘AI for work’ transformation is leaving company
• Negative Sentiment: Meta was also hit by reports that attackers exploited its AI-powered support chatbot to take over high-profile Instagram accounts, adding security and trust concerns around its AI tools and platform controls. Article: Meta faces AI support breach as key internal AI executive exits
• Negative Sentiment: Meta is also facing regulatory and legal pressure, including a Washington high court decision upholding a $35 million campaign finance penalty, which adds to headline risk. Article: Washington high court upholds $35 million campaign finance penalty against Meta

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.