Kovack Advisors Inc. Sells 1,586 Shares of Meta Platforms, Inc. $META

Kovack Advisors Inc. lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,607 shares of the social networking company’s stock after selling 1,586 shares during the period. Meta Platforms accounts for about 0.6% of Kovack Advisors Inc.’s holdings, making the stock its 28th largest holding. Kovack Advisors Inc.’s holdings in Meta Platforms were worth $13,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. First National Bank Sioux Falls grew its stake in shares of Meta Platforms by 0.7% in the fourth quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock worth $1,321,000 after acquiring an additional 14 shares during the last quarter. Levin Capital Strategies L.P. raised its position in shares of Meta Platforms by 1.4% in the 4th quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock worth $649,000 after purchasing an additional 14 shares during the last quarter. Vista Capital Partners Inc. boosted its stake in Meta Platforms by 1.3% in the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after purchasing an additional 14 shares in the last quarter. Arcataur Capital Management LLC boosted its stake in Meta Platforms by 0.9% in the 4th quarter. Arcataur Capital Management LLC now owns 1,736 shares of the social networking company’s stock worth $1,146,000 after purchasing an additional 15 shares in the last quarter. Finally, Acorn Creek Capital LLC grew its position in Meta Platforms by 0.7% during the 4th quarter. Acorn Creek Capital LLC now owns 2,118 shares of the social networking company’s stock valued at $1,398,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 2.0%

Meta Platforms stock opened at $570.05 on Wednesday. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $790.80. The stock has a market cap of $1.45 trillion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a fifty day moving average of $592.21 and a 200 day moving average of $613.14.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The business had revenue of $60.80 billion during the quarter, compared to analysts’ expectations of $60.22 billion. During the same period in the previous year, the business posted $7.14 EPS. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 28.5 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms’s dividend payout ratio (DPR) is 7.91%.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 9,196 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total transaction of $5,063,409.56. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $7,260,343.46. The trade was a 41.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total transaction of $4,379,184.00. Following the completion of the sale, the chief technology officer directly owned 828 shares of the company’s stock, valued at $462,024. This represents a 90.46% decrease in their ownership of the stock. 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 34,957 shares of company stock valued at $20,442,696 in the last 90 days. Corporate insiders own 13.53% of the company’s stock.

Trending Headlines about Meta Platforms

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

• Positive Sentiment: Meta is reportedly preparing to launch Hatch, a consumer AI agent that could let users browse Reddit, order from DoorDash, shop on Etsy, access Yelp and manage Outlook within Meta’s ecosystem. The product could increase engagement with Meta’s platforms and strengthen its position in consumer AI. Reddit Stock Is Up, What You Need to Know
• Positive Sentiment: Analysts continue to point to accelerating advertising growth, AI-powered ad tools, rising user engagement and increased advertiser adoption as factors helping Meta outperform social-media rivals Reddit and Snap. META Rides on Ad Growth
• Positive Sentiment: Former OpenAI researcher Luke Metz has joined Meta’s Superintelligence Labs and will report to AI chief Alexandr Wang. The hire supports Meta’s effort to build advanced AI capabilities, although the financial benefits are longer term. Luke Metz Joins Meta’s Superintelligence Labs
• Neutral Sentiment: Reports highlighted substantial Meta insider-trading activity during August, including notable transactions on August 18. The article did not establish whether the activity represented buying or selling, limiting its immediate stock-price significance. Monster Insider Trading Alert for Meta Stock
• Negative Sentiment: Instagram chief Adam Mosseri is testifying in a lawsuit brought by 29 states alleging that Meta designed Instagram and Facebook to be addictive to children while downplaying safety risks. An adverse outcome could create regulatory, redesign and financial costs. Instagram Head Adam Mosseri to Testify at Meta Trial

Analyst Ratings Changes

META has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Meta Platforms from $830.00 to $780.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Citigroup cut their price target on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Erste Group Bank raised shares of Meta Platforms from a “hold” rating to a “buy” rating in a research report on Tuesday, July 7th. Guggenheim restated a “buy” rating and issued a $800.00 price objective on shares of Meta Platforms in a report on Tuesday, July 28th. Finally, Truist Financial lowered their price objective on Meta Platforms from $840.00 to $770.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $785.32.

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.