Meta Platforms, Inc. $META is Mmbg Investment Advisors CO.’s 6th Largest Position

Mmbg Investment Advisors CO. lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,470 shares of the social networking company’s stock after purchasing an additional 1,221 shares during the quarter. Meta Platforms accounts for 4.6% of Mmbg Investment Advisors CO.’s portfolio, making the stock its 6th largest position. Mmbg Investment Advisors CO.’s holdings in Meta Platforms were worth $54,438,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in META. Ashton Thomas Private Wealth LLC raised its position in Meta Platforms by 34.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company’s stock valued at $38,373,000 after acquiring an additional 13,311 shares in the last quarter. Keybank National Association OH raised its position in Meta Platforms by 15.7% during the fourth quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock valued at $88,319,000 after acquiring an additional 18,169 shares in the last quarter. Becker Capital Management Inc. raised its position in Meta Platforms by 5.0% during the third quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock valued at $25,741,000 after acquiring an additional 1,657 shares in the last quarter. Diversified Trust Co. raised its position in Meta Platforms by 4.1% during the fourth quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock valued at $55,487,000 after acquiring an additional 3,336 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its position in Meta Platforms by 16.2% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock valued at $5,091,000 after acquiring an additional 968 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert M. Kimmitt sold 504 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $629.29, for a total value of $317,162.16. Following the sale, the director owned 3,943 shares in the company, valued at approximately $2,481,290.47. The trade was a 11.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares in the company, valued at $251,641.62. This represents a 94.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 42,860 shares of company stock valued at $26,555,260. 13.53% of the stock is owned by insiders.

Meta Platforms Stock Up 0.7%

META opened at $627.57 on Friday. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The firm’s fifty day moving average price is $618.87 and its two-hundred day moving average price is $636.87. The company has a market capitalization of $1.59 trillion, a P/E ratio of 22.81, a P/E/G ratio of 1.10 and a beta of 1.23.

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

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.525 per share. 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 payout ratio is currently 7.63%.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: Meta launched a new Meta Business Agent for WhatsApp, Messenger, and Instagram, targeting enterprise customers and giving investors a potential new revenue stream beyond advertising. Reuters article
• Positive Sentiment: Meta won a partial legal victory in Europe over the EU’s treatment of Marketplace under tech rules, easing one regulatory overhang. Reuters article
• Positive Sentiment: Analysts remain constructive overall, with at least one recent upgrade to strong-buy and multiple bullish price targets tied to Meta’s commerce and AI initiatives. Finviz reference

Analyst Ratings Changes

A number of research firms have recently commented on META. KeyCorp reissued an “overweight” rating and issued a $760.00 price target on shares of Meta Platforms in a research report on Thursday, April 30th. Raymond James Financial raised shares of Meta Platforms from an “underperform” rating to an “outperform” rating in a research report on Tuesday. Citizens Jmp reissued a “market outperform” rating and issued a $900.00 price target on shares of Meta Platforms in a research report on Tuesday, April 21st. Roth Mkm reissued a “buy” rating on shares of Meta Platforms in a research report on Thursday, April 30th. Finally, Mizuho dropped their price target on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.