Meta Platforms, Inc. $META Stock Acquired by Rayburn West Financial Services LLC

Rayburn West Financial Services LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 27.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,411 shares of the social networking company’s stock after purchasing an additional 3,131 shares during the quarter. Meta Platforms accounts for approximately 5.1% of Rayburn West Financial Services LLC’s holdings, making the stock its 4th largest holding. Rayburn West Financial Services LLC’s holdings in Meta Platforms were worth $10,451,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of META. State Street Corp lifted its position in shares of Meta Platforms by 4.0% in the second quarter. State Street Corp now owns 92,033,963 shares of the social networking company’s stock worth $51,841,811,000 after purchasing an additional 3,510,123 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Meta Platforms by 14.6% during the 1st quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company’s stock worth $12,036,491,000 after buying an additional 2,673,494 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Meta Platforms by 1.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,836,063 shares of the social networking company’s stock valued at $7,230,426,000 after acquiring an additional 162,909 shares during the last quarter. Amundi increased its position in shares of Meta Platforms by 18.1% during the 1st quarter. Amundi now owns 11,858,972 shares of the social networking company’s stock worth $6,784,873,000 after purchasing an additional 1,815,017 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Meta Platforms by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,429,812 shares of the social networking company’s stock worth $5,964,745,000 after purchasing an additional 404,948 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 7,848 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total transaction of $4,379,184.00. Following the completion of the sale, the chief technology officer directly owned 828 shares in the company, valued at $462,024. This represents a 90.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,196 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total value of $5,063,409.56. Following the transaction, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at $7,260,343.46. This trade represents a 41.09% 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. In the last ninety days, insiders sold 150,973 shares of company stock worth $103,128,307. 13.42% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.8%

Shares of META stock opened at $623.61 on Friday. The stock has a market cap of $1.59 trillion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.09 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $779.82. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $679.23 and a 200 day simple moving average of $631.88.

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

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Phillip Securities upgraded shares of Meta Platforms from a “buy” rating to a “strong-buy” rating and lowered their target price for the stock from $795.00 to $750.00 in a report on Monday, August 3rd. Piper Sandler cut their target price on shares of Meta Platforms from $875.00 to $850.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. Pivotal Research raised their price objective on Meta Platforms from $930.00 to $960.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Tigress Financial reaffirmed a “strong-buy” rating and set a $945.00 price objective (down from $995.00) on shares of Meta Platforms in a research report on Thursday, September 24th. Finally, Barclays upped their price objective on shares of Meta Platforms from $780.00 to $880.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Three equities research 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’s stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $833.12.

Meta Platforms News Summary

Here’s some of the latest news about META:

• Positive Sentiment: JPMorgan named Meta its preferred internet stock, citing AI-enhanced advertising and the potential for Family of Apps ad revenue to compare favorably with Google Search. Meta Platforms Wins JPMorgan Backing
• Negative Sentiment: United Airlines barred AI agents from booking flights, raising doubts about a prominent potential use case for Meta’s Muse agent and adding pressure to expectations for AI-related growth. United Airlines Bars AI Agents From Booking Tickets
• Negative Sentiment: Regulators in the UK fined Meta over repeated inaccuracies in WhatsApp Business data, while a Brazilian electoral court also fined Facebook over alleged campaign-related content issues. These actions add regulatory and reputational risk. Meta Fined by UK Regulator

About Meta Platforms

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.