CPC Advisors LLC Has $2.01 Million Position in Meta Platforms, Inc. $META

CPC Advisors LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 73.8% during the first quarter, Holdings Channel reports. The fund owned 3,516 shares of the social networking company’s stock after selling 9,907 shares during the period. CPC Advisors LLC’s holdings in Meta Platforms were worth $2,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Westchester Capital Management Inc. bought a new position in shares of Meta Platforms in the third quarter valued at about $26,000. RHL Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth about $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth about $29,000. Niles Investment Management LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $29,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

More Meta Platforms News

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

• Positive Sentiment: Meta is getting recognition from some investors as a long-term AI winner, with articles highlighting it as a top AI stock in billionaire David Tepper’s portfolio and a high-conviction hedge fund holding.
• Positive Sentiment: Meta’s new $299 AI smart glasses broaden its wearable lineup and could help expand consumer adoption beyond higher-priced models. Reuters: Meta announces new range of smart glasses starting at $299
• Positive Sentiment: Facebook is rolling out an AI companion app for creators, which may improve engagement and give Meta another tool to support monetization across its platforms.
• Positive Sentiment: Qualcomm said Meta will be the first major customer for its new data-center CPU, signaling that Meta is continuing to invest heavily in next-generation AI infrastructure. CNBC: Qualcomm announces AI data center CPU, signs Meta as first major customer
• Neutral Sentiment: Meta is giving some engineers a way to leave its AI training unit after a recent reorganization, which may help morale but does not directly change the company’s financial outlook. Business Insider: Meta forced thousands of engineers into AI training work. Now it’s giving some a way out.
• Neutral Sentiment: Reports that Meta is building an experimental prediction markets app could open a new consumer product category, but the revenue impact remains uncertain and the project is still early. Reuters: Mark Zuckerberg directed Meta to create a prediction markets app, NYT reports
• Negative Sentiment: European regulators are escalating an investigation into whether Facebook and Instagram use addictive design features for children, increasing the risk of fines or product changes. Reuters: EU to ramp up Meta probe into addictive design, Bloomberg News reports
• Negative Sentiment: The U.S. government is also pressuring Meta to submit AI models for security reviews, adding another layer of regulatory uncertainty around the company’s AI strategy. Reuters: US presses Meta to agree to AI reviews as security concerns rise

Insiders Place Their Bets

In other news, COO Javier Olivan sold 140 shares of the stock in a transaction on 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 in the company, valued at approximately $7,707,600. This represents a 1.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total value of $1,268,023.68. Following the sale, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. This trade represents a 65.03% decrease in their position. 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 39,013 shares of company stock valued at $24,115,999. 13.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. TD Cowen cut their price objective on shares of Meta Platforms from $820.00 to $800.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Barclays upped their target price on Meta Platforms from $800.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. The Goldman Sachs Group lowered Meta Platforms from a “buy” rating to a “sell” rating in a research note on Tuesday, June 2nd. KeyCorp restated an “overweight” rating and issued a $760.00 price target on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $810.00 price objective on shares of Meta Platforms in a report on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $840.60.

Meta Platforms Stock Down 0.8%

META stock opened at $557.83 on Thursday. The business has a 50-day simple moving average of $617.09 and a 200 day simple moving average of $632.24. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.41 trillion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23.

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

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be given a $0.525 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. Meta Platforms’s dividend payout ratio (DPR) is currently 7.63%.

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.