Meta Platforms, Inc. $META Stock: State of Wyoming Trims Holdings

State of Wyoming cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 52.3% in the third quarter, HoldingsChannel reports. The fund owned 3,475 shares of the social networking company’s stock after selling 3,806 shares during the period. Meta Platforms accounts for 0.2% of State of Wyoming’s holdings, making the stock its 22nd largest position. State of Wyoming’s holdings in Meta Platforms were worth $2,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Bill Few Associates Inc. increased its stake in shares of Meta Platforms by 1.3% in the 3rd quarter. Bill Few Associates Inc. now owns 1,206 shares of the social networking company’s stock valued at $874,000 after buying an additional 15 shares during the period. Value Partners Investments Inc. raised its stake in shares of Meta Platforms by 1.8% during the third quarter. Value Partners Investments Inc. now owns 866 shares of the social networking company’s stock worth $630,000 after buying an additional 15 shares during the last quarter. CWS Financial Advisors LLC boosted its stake in Meta Platforms by 1.7% in the first quarter. CWS Financial Advisors LLC now owns 985 shares of the social networking company’s stock valued at $564,000 after acquiring an additional 16 shares during the last quarter. Tenzing Financial LLC grew its holdings in Meta Platforms by 1.3% during the 2nd quarter. Tenzing Financial LLC now owns 1,210 shares of the social networking company’s stock worth $726,000 after acquiring an additional 16 shares during the period. Finally, Uptown Financial Advisors LLC raised its position in shares of Meta Platforms by 1.3% during the 2nd quarter. Uptown Financial Advisors LLC now owns 1,273 shares of the social networking company’s stock valued at $717,000 after acquiring an additional 16 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Key Headlines Impacting Meta Platforms

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

• Positive Sentiment: Meta made its Muse Voice AI available to U.S. users, including voice and video conversations with its consumer AI agent. Wider access could help the company build engagement with its AI products. Meta says US users can now video chat with their Muse AI avatar
• Positive Sentiment: Meta acquired Conductor, a startup that uses multiple AI agents to help build software projects, adding technology and talent to its AI development efforts. Meta acquires AI coding startup Conductor
• Neutral Sentiment: Meta completed a $15 billion senior-notes offering. Strong investor demand supports its ability to raise funds, but the borrowing adds to scrutiny of the cost of financing its AI expansion. Meta Platforms Completes $15 Billion Senior Notes Offering
• Negative Sentiment: Meta, Google and TikTok sued California’s attorney general to block a law restricting features considered addictive for users under 16. The legal challenge highlights continuing regulatory and litigation exposure around youth safety. Meta, Google, and TikTok sue California AG over teen social media law
• Negative Sentiment: Meta’s president warned that political and community opposition over data-center power and water use could make new facilities harder to build. That could complicate the infrastructure buildout needed to support AI growth. Meta warns election backlash against data centers could make AI expansion harder
• Negative Sentiment: Coverage of Meta’s debut euro bond sale pointed to borrowing costs above Alphabet’s, adding to investor concern about the expense of funding the company’s large AI spending plans. Meta Paid 1.4 Times What Alphabet Did to Borrow in Euros
• Negative Sentiment: Delhi Police filed a case concerning child sexual abuse material on Meta’s platforms after intervention by India’s child-rights authorities, creating potential reputational and legal risk. Child Abuse Material On Meta Platforms Flagged, Delhi Police Files FIR After NHRC Intervention

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Cantor Fitzgerald raised their price target on Meta Platforms from $840.00 to $860.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Loop Capital upped their price target on Meta Platforms from $740.00 to $955.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $885.00 target price on shares of Meta Platforms in a research note on Thursday, October 22nd. China Renaissance decreased their price target on shares of Meta Platforms from $825.00 to $700.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Citic Securities reduced their target price on Meta Platforms from $770.00 to $718.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $833.12.

Meta Platforms Price Performance

Shares of META opened at $605.08 on Friday. The stock has a market capitalization of $1.55 trillion, a P/E ratio of 20.63, a P/E/G ratio of 1.09 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $779.82. The company has a 50 day moving average of $674.18 and a 200-day moving average of $632.13. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.30.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.86. The business had revenue of $64.60 billion for the quarter, compared to analyst estimates of $63.34 billion. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.25 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 29.01 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were paid a dividend of $0.5250 per share. The ex-dividend date was Monday, September 21st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 7.16%.

Insider Activity

In related news, COO Javier Olivan sold 946 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $614.15, for a total value of $580,985.90. Following the completion of the transaction, the chief operating officer directly owned 4,094 shares of the company’s stock, valued at approximately $2,514,330.10. This trade represents a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 151,090 shares of company stock worth $103,150,807. Corporate insiders own 13.53% of the company’s stock.

About Meta Platforms

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company’s principal platforms include Facebook, Instagram, Messenger, WhatsApp, and Threads, which enable users to connect, communicate, share content, and discover products and services.

Meta also operates Reality Labs, its division focused on virtual, augmented, and mixed reality technologies. Reality Labs develops products such as Meta Quest virtual reality headsets and related software and experiences, along with research and hardware intended to support immersive computing.