Axxcess Wealth Management LLC Boosts Stock Holdings in Meta Platforms, Inc. $META

Axxcess Wealth Management LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,714 shares of the social networking company’s stock after acquiring an additional 5,372 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Meta Platforms were worth $42,057,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Westchester Capital Management Inc. bought a new position in shares of Meta Platforms during the 3rd quarter worth approximately $26,000. RHL Group LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $29,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $42,000. Finally, Key Capital Management INC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on META. Arete Research set a $735.00 price target on Meta Platforms and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Rosenblatt Securities restated a “buy” rating and issued a $1,015.00 price objective on shares of Meta Platforms in a research note on Thursday, May 28th. Citizens Jmp reaffirmed a “market outperform” rating and set a $900.00 target price on shares of Meta Platforms in a research report on Tuesday, April 21st. Truist Financial lowered their target price on Meta Platforms from $900.00 to $840.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Wolfe Research cut their price target on shares of Meta Platforms from $850.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $840.60.

Key Headlines Impacting Meta Platforms

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

• Positive Sentiment: Meta is expanding its AI infrastructure by signing new computing deals with Crusoe, which should help support its long-term AI buildout and capacity needs. Reuters: Meta signs new AI computing deals with data center firm Crusoe
• Positive Sentiment: Meta continues to strengthen its AI-led growth narrative through data center expansion in India and new creator-focused AI tools on Facebook, both of which could improve engagement and future monetization. Insider Monkey: Meta rolls out new AI features on Facebook for content creators
• Positive Sentiment: Threads has reached 500 million monthly active users, and Meta is adding new community and feed features, reinforcing the company’s platform growth beyond Facebook and Instagram. Yahoo Finance: Meta reaches 500 million Threads users
• Neutral Sentiment: Meta’s COO Javier Olivan disclosed another pre-planned stock sale, which is notable but not necessarily a fundamental signal since it was executed under a 10b5-1 plan. InsiderTrades: Meta COO sells stock
• Neutral Sentiment: Meta’s dividend and long-term shareholder-return profile are supportive, but this is unlikely to be the main short-term stock driver. Finbold: Meta to pay dividends next week
• Negative Sentiment: Reuters reported that Meta is lobbying Congress for legal protection from child-harm lawsuits, keeping regulatory and litigation risk in focus for investors. Reuters: Meta lobbies Congress for protection from child-harm lawsuits
• Negative Sentiment: Concerns around AI execution also weighed on sentiment after Reuters said a key executive overseeing Meta’s “AI for work” transformation is leaving the company. Reuters: Meta head of product for AI for work transformation is leaving company
• Negative Sentiment: Meta was also hit by reports that attackers exploited its AI customer support chatbot to compromise Instagram accounts, raising trust and security concerns around its AI tools. Yahoo Finance: Meta faces AI support breach as key internal AI executive exits

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 140 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $600.00, for a total transaction of $84,000.00. Following the completion of the transaction, the chief operating officer owned 12,846 shares in the company, valued at $7,707,600. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 504 shares of Meta Platforms stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $629.29, for a total transaction of $317,162.16. Following the completion of the transaction, the director owned 3,943 shares of the company’s stock, valued at $2,481,290.47. The trade was a 11.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 40,568 shares of company stock valued at $25,057,365 over the last three months. 13.53% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of META opened at $577.22 on Friday. The firm has a market cap of $1.46 trillion, a PE ratio of 20.98, a PEG ratio of 1.01 and a beta of 1.23. The stock’s fifty day moving average price is $621.98 and its two-hundred day moving average price is $634.55. 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, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The company 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 firm’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.43 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Dividend Announcement

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

About Meta Platforms

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.