Meta Platforms, Inc. $META Shares Acquired by Summit Global Investments

Summit Global Investments raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 24.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,002 shares of the social networking company’s stock after purchasing an additional 4,675 shares during the period. Meta Platforms accounts for approximately 0.9% of Summit Global Investments’ investment portfolio, making the stock its 14th biggest position. Summit Global Investments’ holdings in Meta Platforms were worth $17,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Opinicus Capital Inc. boosted its position in shares of Meta Platforms by 1.1% in the third quarter. Opinicus Capital Inc. now owns 3,317 shares of the social networking company’s stock valued at $2,405,000 after acquiring an additional 37 shares during the period. Invera Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 1.3% during the third quarter. Invera Wealth Advisors LLC now owns 2,376 shares of the social networking company’s stock worth $1,723,000 after purchasing an additional 31 shares during the period. Marin Bay Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 1.2% during the third quarter. Marin Bay Wealth Advisors LLC now owns 4,781 shares of the social networking company’s stock worth $3,468,000 after purchasing an additional 58 shares during the period. Aprio Wealth Management LLC boosted its stake in shares of Meta Platforms by 8.2% in the third quarter. Aprio Wealth Management LLC now owns 10,291 shares of the social networking company’s stock valued at $7,463,000 after buying an additional 780 shares during the period. Finally, Left Brain Wealth Management LLC increased its stake in Meta Platforms by 10.0% during the 3rd quarter. Left Brain Wealth Management LLC now owns 19,654 shares of the social networking company’s stock worth $14,253,000 after acquiring an additional 1,784 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 4.0%

NASDAQ:META opened at $605.08 on Friday. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $779.82. The firm’s fifty day moving average is $674.18 and its 200-day moving average is $632.13. The firm has a market cap of $1.55 trillion, a P/E ratio of 20.63, a P/E/G ratio of 1.09 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90.

Meta Platforms (NASDAQ:META) last released its earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping the consensus estimate of $6.54 by $0.86. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The business had revenue of $64.60 billion during the quarter, compared to analysts’ expectations of $63.34 billion. During the same quarter last year, the firm posted $7.25 earnings per share. The firm’s revenue was up 26.1% on a year-over-year basis. Equities analysts expect that Meta Platforms, Inc. will post 29.01 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were given a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms’s dividend payout ratio is 7.16%.

Key Headlines Impacting Meta Platforms

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

• Positive Sentiment: Meta made its Muse Voice AI available to U.S. users, including voice and video conversations with its consumer AI agent. Wider access could help the company build engagement with its AI products. Meta says US users can now video chat with their Muse AI avatar
• Positive Sentiment: Meta acquired Conductor, a startup that uses multiple AI agents to help build software projects, adding technology and talent to its AI development efforts. Meta acquires AI coding startup Conductor
• Neutral Sentiment: Meta completed a $15 billion senior-notes offering. Strong investor demand supports its ability to raise funds, but the borrowing adds to scrutiny of the cost of financing its AI expansion. Meta Platforms Completes $15 Billion Senior Notes Offering
• Negative Sentiment: Meta, Google and TikTok sued California’s attorney general to block a law restricting features considered addictive for users under 16. The legal challenge highlights continuing regulatory and litigation exposure around youth safety. Meta, Google, and TikTok sue California AG over teen social media law
• Negative Sentiment: Meta’s president warned that political and community opposition over data-center power and water use could make new facilities harder to build. That could complicate the infrastructure buildout needed to support AI growth. Meta warns election backlash against data centers could make AI expansion harder
• Negative Sentiment: Coverage of Meta’s debut euro bond sale pointed to borrowing costs above Alphabet’s, adding to investor concern about the expense of funding the company’s large AI spending plans. Meta Paid 1.4 Times What Alphabet Did to Borrow in Euros
• Negative Sentiment: Delhi Police filed a case concerning child sexual abuse material on Meta’s platforms after intervention by India’s child-rights authorities, creating potential reputational and legal risk. Child Abuse Material On Meta Platforms Flagged, Delhi Police Files FIR After NHRC Intervention

Wall Street Analysts Forecast Growth

META has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Meta Platforms from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Wolfe Research restated an “outperform” rating and set a $700.00 target price on shares of Meta Platforms in a research note on Thursday, July 30th. UBS Group reiterated an “outperform” rating and issued a $920.00 price target on shares of Meta Platforms in a research note on Thursday, October 22nd. Robert W. Baird lowered their target price on Meta Platforms from $830.00 to $750.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Finally, Roth Capital reduced their price target on shares of Meta Platforms from $820.00 to $750.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $833.12.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 946 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $614.15, for a total value of $580,985.90. Following the transaction, the chief operating officer owned 4,094 shares in the company, valued at approximately $2,514,330.10. This represents a 18.77% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 151,090 shares of company stock valued at $103,150,807. Insiders own 13.53% of the company’s stock.

Meta Platforms Profile

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company’s principal platforms include Facebook, Instagram, Messenger, WhatsApp, and Threads, which enable users to connect, communicate, share content, and discover products and services.

Meta also operates Reality Labs, its division focused on virtual, augmented, and mixed reality technologies. Reality Labs develops products such as Meta Quest virtual reality headsets and related software and experiences, along with research and hardware intended to support immersive computing.