AlTi Global Inc. Has $9.18 Million Position in Meta Platforms, Inc. $META

AlTi Global Inc. lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,041 shares of the social networking company’s stock after selling 1,004 shares during the quarter. AlTi Global Inc.’s holdings in Meta Platforms were worth $9,177,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Grant Street Asset Management Inc. raised its stake in shares of Meta Platforms by 23.8% during the 1st quarter. Grant Street Asset Management Inc. now owns 380 shares of the social networking company’s stock worth $217,000 after purchasing an additional 73 shares during the period. Commonwealth Financial Services LLC boosted its position in Meta Platforms by 8.3% during the first quarter. Commonwealth Financial Services LLC now owns 3,316 shares of the social networking company’s stock worth $1,897,000 after purchasing an additional 255 shares during the period. Meeder Advisory Services Inc. increased its stake in shares of Meta Platforms by 5.7% in the first quarter. Meeder Advisory Services Inc. now owns 50,943 shares of the social networking company’s stock worth $29,146,000 after purchasing an additional 2,741 shares in the last quarter. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Meta Platforms by 3.1% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 39,519 shares of the social networking company’s stock valued at $22,610,000 after purchasing an additional 1,193 shares during the period. Finally, Hamel Associates Inc. lifted its stake in Meta Platforms by 26.2% in the 1st quarter. Hamel Associates Inc. now owns 1,397 shares of the social networking company’s stock worth $799,000 after purchasing an additional 290 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, insider Curtis J. Mahoney sold 2,079 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total value of $1,268,023.68. Following the completion of the sale, the insider directly owned 1,118 shares of the company’s stock, valued at $681,890.56. This represents a 65.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 500 shares of Meta Platforms stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $607.75, for a total transaction of $303,875.00. Following the completion of the transaction, the director directly owned 3,443 shares in the company, valued at $2,092,483.25. The trade was a 12.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 37,948 shares of company stock worth $23,184,319. Corporate insiders own 13.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of Meta Platforms from $820.00 to $800.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Arete Research set a $735.00 price objective on Meta Platforms and gave the company a “buy” rating in a research report on Tuesday, June 2nd. BNP Paribas Exane initiated coverage on Meta Platforms in a report on Tuesday, June 2nd. They set an “outperform” rating on the stock. Wall Street Zen lowered Meta Platforms from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Raymond James Financial upped their price objective on Meta Platforms from $825.00 to $850.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $835.64.

Key Meta Platforms News

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

• Positive Sentiment: A new free verification badge system for Facebook users, which may improve trust and platform quality. Fast Company article
• Positive Sentiment: A dedicated Marketplace seller app with tools for merchants, aimed at making Facebook commerce more useful and organized. Reuters article
• Positive Sentiment: Wall Street commentary remained constructive, with articles highlighting Meta as a strong momentum stock and a potentially attractive AI-era value name.
• Positive Sentiment: Analyst sentiment stayed favorable, including a report that Wells Fargo raised its price target on Meta to $835.00.

Meta Platforms Trading Down 1.8%

Shares of META opened at $595.19 on Friday. The firm has a 50-day moving average price of $604.51 and a 200 day moving average price of $625.76. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.51 trillion, a P/E ratio of 21.64, a P/E/G ratio of 1.02 and a beta of 1.25.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same quarter last year, the firm earned $6.43 EPS. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 29.49 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms’s dividend payout ratio (DPR) is 7.63%.

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.