Meta Platforms, Inc. $META Shares Acquired by ABN Amro Investment Solutions

ABN Amro Investment Solutions raised its position in Meta Platforms, Inc. (NASDAQ:META) by 15.3% during the first quarter, Holdings Channel reports. The firm owned 145,873 shares of the social networking company’s stock after buying an additional 19,354 shares during the quarter. Meta Platforms comprises 1.1% of ABN Amro Investment Solutions’ portfolio, making the stock its 16th largest holding. ABN Amro Investment Solutions’ holdings in Meta Platforms were worth $83,458,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. RHL Group LLC acquired a new position in Meta Platforms during the 4th quarter worth about $28,000. Strategic Wealth Advisors LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $29,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the fourth quarter worth about $42,000. Bayban increased its stake in Meta Platforms by 100.0% during the first quarter. Bayban now owns 70 shares of the social networking company’s stock worth $40,000 after purchasing an additional 35 shares during the period. Finally, Key Capital Management INC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $48,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Down 1.8%

Shares of Meta Platforms stock opened at $595.19 on Friday. 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 company has a fifty day simple moving average of $604.51 and a 200-day simple moving average of $625.76. The stock has a market cap of $1.51 trillion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.01 and a beta of 1.25. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25.

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

Meta Platforms Dividend Announcement

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

Trending Headlines about Meta Platforms

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.

Insider Buying and Selling

In related news, insider Curtis J. Mahoney sold 2,079 shares of the business’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 transaction, the insider owned 1,118 shares in the company, valued at $681,890.56. The trade was a 65.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,847 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the transaction, the chief technology officer directly owned 414 shares in the company, valued at approximately $251,641.62. The trade was a 94.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 37,948 shares of company stock worth $23,184,319. Corporate insiders own 13.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on META. The Goldman Sachs Group downgraded shares of Meta Platforms from a “buy” rating to a “sell” rating in a research note on Tuesday, June 2nd. Wolfe Research decreased their price target on shares of Meta Platforms from $850.00 to $800.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. Rothschild & Co Redburn boosted their price target on shares of Meta Platforms from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Guggenheim cut their price objective on Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, TD Cowen reduced their price objective on Meta Platforms from $820.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Five analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $835.64.

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.