Evelyn Partners Investment Management LLP Has $70.93 Million Stock Position in Meta Platforms, Inc. $META

Evelyn Partners Investment Management LLP grew its position in Meta Platforms, Inc. (NASDAQ:META) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 107,457 shares of the social networking company’s stock after acquiring an additional 6,276 shares during the quarter. Meta Platforms makes up about 2.0% of Evelyn Partners Investment Management LLP’s investment portfolio, making the stock its 14th largest holding. Evelyn Partners Investment Management LLP’s holdings in Meta Platforms were worth $70,931,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after acquiring an additional 570 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after acquiring an additional 875 shares in the last quarter. Headwater Capital Co Ltd boosted its stake in shares of Meta Platforms by 294.7% during the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after acquiring an additional 112,000 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in shares of Meta Platforms during the 2nd quarter worth about $213,000. Finally, Capital & Planning LLC bought a new stake in shares of Meta Platforms during the 2nd quarter worth about $322,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.3%

Shares of META stock opened at $566.98 on Friday. The stock has a market cap of $1.43 trillion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The stock has a fifty day moving average price of $621.15 and a 200 day moving average price of $635.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35.

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

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on META shares. Rosenblatt Securities restated a “buy” rating and set a $1,015.00 target price on shares of Meta Platforms in a research note on Thursday, May 28th. Guggenheim decreased their target price on Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Wolfe Research decreased their target price on Meta Platforms from $850.00 to $800.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Arete Research set a $735.00 target price on Meta Platforms and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen downgraded Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $840.60.

More Meta Platforms News

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

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 7,847 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the transaction, the chief technology officer directly owned 414 shares of the company’s stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, COO Javier Olivan sold 837 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 value of $526,715.73. Following the transaction, the chief operating officer directly owned 12,986 shares of the company’s stock, valued at $8,171,959.94. This represents a 6.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,305 shares of company stock valued at $25,567,928 over the last quarter. 13.53% of the stock is owned by corporate insiders.

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.