Consolidated Capital Management LLC Raises Holdings in Meta Platforms, Inc. $META

Consolidated Capital Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,758 shares of the social networking company’s stock after buying an additional 940 shares during the quarter. Meta Platforms comprises about 3.3% of Consolidated Capital Management LLC’s holdings, making the stock its 10th biggest position. Consolidated Capital Management LLC’s holdings in Meta Platforms were worth $11,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of META. Westchester Capital Management Inc. bought a new position in shares of Meta Platforms in the third quarter valued at approximately $26,000. RHL Group LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $28,000. Strategic Wealth Advisors LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $29,000. Key Capital Management INC acquired a new stake in Meta Platforms in the fourth quarter worth approximately $48,000. Finally, Entrust Financial LLC acquired a new stake in Meta Platforms in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $585.39 on Tuesday. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The firm has a 50-day moving average of $619.59 and a two-hundred day moving average of $636.72. The firm has a market capitalization of $1.48 trillion, a PE ratio of 21.28, a P/E/G ratio of 1.05 and a beta of 1.23. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:META) last released its earnings results 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. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. During the same period last year, the firm posted $6.43 earnings per share. The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced 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. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s payout ratio is 7.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on META shares. Sanford C. Bernstein lowered their price target on Meta Platforms from $900.00 to $850.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Susquehanna upgraded Meta Platforms from a “positive” rating to a “positive” rating in a report on Tuesday, June 2nd. Bank of America decreased their target price on Meta Platforms from $885.00 to $820.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Wells Fargo & Company lowered their target price on Meta Platforms from $770.00 to $765.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $810.00 price target on shares of Meta Platforms in a research report on Monday, June 1st. 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 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 target price of $840.60.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 2,778 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $6,645,103.65. This represents a 20.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the company’s stock in a transaction on 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 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 41,305 shares of company stock valued at $25,567,928. Company insiders own 13.53% of the company’s stock.

Meta Platforms News Summary

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

• Positive Sentiment: Meta announced a partnership with Associated Builders and Contractors to launch a $115 million workforce academy that will train construction technicians for its data center projects, helping address labor shortages and supporting its AI infrastructure expansion. Article Title
• Positive Sentiment: Italy’s competition regulator dropped its investigation into Meta’s WhatsApp AI bot, removing a legal overhang tied to how the company integrates AI into WhatsApp. Article Title
• Positive Sentiment: Meta also partnered with Best Buy to create “Meta Lab” experiential spaces where shoppers can test VR headsets and AI glasses, which could help boost hardware awareness and adoption. Article Title

Meta Platforms Company 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.