Meta Platforms, Inc. $META Shares Bought by Aureus Asset Management LLC

Aureus Asset Management LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,751 shares of the social networking company’s stock after buying an additional 3,520 shares during the period. Meta Platforms makes up approximately 2.9% of Aureus Asset Management LLC’s portfolio, making the stock its 13th largest position. Aureus Asset Management LLC’s holdings in Meta Platforms were worth $43,339,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. RHL Group LLC purchased a new position in Meta Platforms in the fourth quarter valued at $28,000. Strategic Wealth Advisors LLC purchased a new stake in Meta Platforms during the 4th quarter worth about $29,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the 4th quarter worth about $42,000. Bayban raised its position in Meta Platforms by 100.0% in the 1st quarter. Bayban now owns 70 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 35 shares in the last quarter. Finally, Key Capital Management INC acquired a new stake in Meta Platforms in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $595.19 on Monday. 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, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25. The firm’s 50 day moving average is $604.51 and its two-hundred day moving average is $625.53. The firm has a market capitalization of $1.51 trillion, a P/E ratio of 21.64, a P/E/G ratio of 1.01 and a beta of 1.25.

Meta Platforms (NASDAQ:META) last issued 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. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. During the same quarter in the prior year, the business posted $6.43 EPS. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. Research analysts forecast that Meta Platforms, Inc. will post 29.49 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a $0.525 dividend. 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 is presently 7.63%.

Insider Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares in the company, valued at $251,641.62. This represents a 94.99% decrease in their position. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Curtis J. Mahoney sold 2,079 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the transaction, the insider directly owned 1,118 shares in the company, valued at $681,890.56. The trade was a 65.03% 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. In the last three months, insiders have sold 36,393 shares of company stock valued at $22,141,163. 13.53% of the stock is currently owned by insiders.

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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on META shares. Benchmark began coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set a “buy” rating for the company. Roth Capital reaffirmed a “buy” rating on shares of Meta Platforms in a report on Thursday, April 30th. Citizens Jmp reduced their target price on shares of Meta Platforms from $825.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. KeyCorp reiterated an “overweight” rating and issued a $760.00 price target on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, Guggenheim lowered their price target on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $835.64.

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.