Meta Platforms, Inc. $META is Atalanta Sosnoff Capital LLC’s 7th Largest Position

Atalanta Sosnoff Capital LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,249 shares of the social networking company’s stock after selling 45,077 shares during the quarter. Meta Platforms accounts for about 3.8% of Atalanta Sosnoff Capital LLC’s investment portfolio, making the stock its 7th biggest holding. Atalanta Sosnoff Capital LLC’s holdings in Meta Platforms were worth $196,871,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Westchester Capital Management Inc. bought a new stake in shares of Meta Platforms in the third quarter worth $26,000. RHL Group LLC bought a new stake in Meta Platforms during the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $29,000. Key Capital Management INC purchased a new stake in Meta Platforms in the fourth quarter worth about $48,000. Finally, Entrust Financial LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $48,000. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of analyst reports. Arete Research set a $735.00 price target on Meta Platforms and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Roth Mkm restated a “buy” rating on shares of Meta Platforms in a research report on Thursday, April 30th. Bank of America reduced their price target on Meta Platforms from $885.00 to $820.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $810.00 price target on shares of Meta Platforms in a research report on Monday, June 1st. Finally, Mizuho reduced their price target on Meta Platforms from $850.00 to $835.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $840.60.

Meta Platforms Stock Down 0.3%

Shares of NASDAQ:META opened at $566.98 on Friday. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The stock has a market cap of $1.43 trillion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23. The business’s 50 day moving average is $621.15 and its 200 day moving average is $635.89. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) 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 analysts’ expectations of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter last year, the firm earned $6.43 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

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 dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s dividend payout ratio (DPR) is 7.63%.

Meta Platforms News Summary

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, COO Javier Olivan sold 837 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $629.29, for a total transaction of $526,715.73. Following the sale, the chief operating officer owned 12,986 shares of the company’s stock, valued at approximately $8,171,959.94. This trade represents a 6.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 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 $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. In the last three months, insiders have sold 41,305 shares of company stock worth $25,567,928. 13.53% of the stock is currently owned by company insiders.

Meta Platforms 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.