Meta Platforms, Inc. $META Shares Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.5% during the first quarter, HoldingsChannel reports. The firm owned 30,548 shares of the social networking company’s stock after buying an additional 1,047 shares during the period. Meta Platforms accounts for approximately 1.3% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 16th largest holding. Turtle Creek Wealth Advisors LLC’s holdings in Meta Platforms were worth $17,478,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. RHL Group LLC purchased a new stake in Meta Platforms during the 4th quarter worth $28,000. Strategic Wealth Advisors LLC acquired a new position in Meta Platforms in the 4th quarter worth $29,000. Niles Investment Management LLC purchased a new position in Meta Platforms in the 4th quarter valued at about $29,000. Bayban boosted its position in Meta Platforms by 100.0% in the 1st quarter. Bayban now owns 70 shares of the social networking company’s stock valued at $40,000 after buying an additional 35 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $603.12 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The firm’s 50-day simple moving average is $598.90 and its 200-day simple moving average is $626.99. The firm has a market cap of $1.53 trillion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.09 and a beta of 1.25.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The business had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period last year, the firm earned $6.43 earnings per share. Equities analysts forecast that Meta Platforms, Inc. will post 29.46 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms’s dividend payout ratio (DPR) is currently 7.63%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 3,348 shares of Meta Platforms stock in a transaction on Monday, July 6th. The shares were sold at an average price of $600.97, for a total value of $2,012,047.56. Following the completion of the transaction, the chief operating officer owned 9,498 shares of the company’s stock, valued at $5,708,013.06. The trade was a 26.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the sale, the insider owned 1,118 shares of the company’s stock, valued at approximately $681,890.56. The trade was a 65.03% decrease in their position. 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 have sold a total of 44,748 shares of company stock worth $27,565,292 in the last quarter. 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 it will spend more than C$13 billion on its first AI data center in Canada, its largest outside the U.S. Investors may see this as a signal that Meta is still aggressively scaling its AI infrastructure to support future products and monetization. Meta plans billions for first AI data center in Canada, largest outside the US
• Positive Sentiment: Meta rolled out Muse Image, its first AI image-generation model from Meta Superintelligence Labs, which could improve engagement across Instagram, WhatsApp, and Meta AI while giving advertisers new creative tools. Meta expands generative AI tools with Muse Image rollout
• Positive Sentiment: Several reports and analyst notes highlighted Meta as an attractive AI and momentum stock, including a rating upgrade to Buy from Erste Group Bank and bullish commentary around its long-term growth and capex strategy. Meta Platforms (NASDAQ:META) Raised to “Buy” at Erste Group Bank
• Neutral Sentiment: Meta’s move to potentially monetize excess compute capacity or expand into cloud/neocloud services is strategically interesting, but it is still an early-stage idea and not yet a proven earnings driver.
• Negative Sentiment: Meta disclosed that four U.S. states are seeking about $1.4 trillion in penalties in an upcoming youth-safety trial, creating a very large legal risk that could weigh on investor sentiment. Meta says US states are seeking $1.4 trillion in penalties in August youth safety trial
• Negative Sentiment: Separate reporting on Instagram AI sharing rules and other regulatory scrutiny adds to concerns about privacy, content use, and platform oversight.
• Negative Sentiment: Comments from Mark Zuckerberg that AI agent development “hasn’t really accelerated” as expected may also raise questions about the near-term payoff from Meta’s heavy AI spending.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on META. Erste Group Bank raised Meta Platforms from a “hold” rating to a “buy” rating in a research report on Tuesday. Sanford C. Bernstein reduced their price target on Meta Platforms from $900.00 to $850.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Tigress Financial raised their price objective on Meta Platforms from $935.00 to $945.00 and gave the company a “strong-buy” rating in a research note on Wednesday, March 18th. Citizens Jmp restated a “market outperform” rating and set a $900.00 price objective on shares of Meta Platforms in a report on Tuesday, April 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,015.00 target price on shares of Meta Platforms in a research report on Thursday, May 28th. Three 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 given a Sell rating to the stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $840.64.

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.