Meta Platforms, Inc. $META Position Cut by DJE Kapital AG

DJE Kapital AG reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 71.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,708 shares of the social networking company’s stock after selling 160,464 shares during the quarter. DJE Kapital AG’s holdings in Meta Platforms were worth $36,130,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Keybank National Association OH lifted its stake in Meta Platforms by 15.7% during the fourth quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock valued at $88,319,000 after buying an additional 18,169 shares in the last quarter. WMS Group LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth approximately $876,000. Consolidated Investment Group LLC increased its position in shares of Meta Platforms by 61.2% in the fourth quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company’s stock worth $5,215,000 after acquiring an additional 3,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Meta Platforms by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after acquiring an additional 7,269,279 shares in the last quarter. Finally, Third View Private Wealth LLC acquired a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $27,789,000. Institutional investors own 79.91% of the company’s stock.

More 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.

Insider Buying and Selling

In related news, Director Robert M. Kimmitt sold 500 shares of Meta Platforms stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $607.75, for a total transaction of $303,875.00. Following the completion of the sale, the director owned 3,443 shares of the company’s stock, valued at approximately $2,092,483.25. This trade represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 3,348 shares of Meta Platforms stock in a transaction on Monday, July 6th. The shares were sold at an average price of $600.97, for a total value of $2,012,047.56. Following the sale, the chief operating officer directly owned 9,498 shares of the company’s stock, valued at approximately $5,708,013.06. The trade was a 26.06% 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. Over 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 Upgrades and Downgrades

Several brokerages recently commented on META. Benchmark began coverage on shares of Meta Platforms in a research report on Tuesday, June 2nd. They issued a “buy” rating for the company. Weiss Ratings downgraded shares of Meta Platforms from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. The Goldman Sachs Group lowered Meta Platforms from a “buy” rating to a “sell” rating in a report on Tuesday, June 2nd. Mizuho decreased their target price 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. Finally, Erste Group Bank upgraded Meta Platforms from a “hold” rating to a “buy” rating in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $835.64.

Meta Platforms Stock Performance

Shares of META opened at $595.19 on Friday. The company has a market capitalization of $1.51 trillion, a PE ratio of 21.64, a PEG ratio of 1.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The company’s 50 day moving average price is $604.51 and its 200 day moving average price is $625.76. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25.

Meta Platforms (NASDAQ:META) last released its 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. The company had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company’s revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.43 EPS. Research analysts expect that Meta Platforms, Inc. will post 29.49 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were paid a $0.525 dividend. 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 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.