Meta Platforms, Inc. $META Stock Holdings Lowered by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 78,215 shares of the social networking company’s stock after selling 4,692 shares during the period. Meta Platforms makes up approximately 1.1% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 21st biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Meta Platforms were worth $56,720,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Eiger Wealth Management LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth about $316,000. Cincinnati Insurance Co. bought a new position in shares of Meta Platforms during the 3rd quarter worth approximately $1,523,000. Ethos Capital Management Inc. boosted its stake in shares of Meta Platforms by 10.4% during the 3rd quarter. Ethos Capital Management Inc. now owns 5,167 shares of the social networking company’s stock worth $3,747,000 after acquiring an additional 486 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Meta Platforms by 13.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,536,844 shares of the social networking company’s stock worth $1,114,489,000 after acquiring an additional 179,071 shares during the last quarter. Finally, Leelyn Smith LLC increased its holdings in shares of Meta Platforms by 4.9% in the third quarter. Leelyn Smith LLC now owns 8,860 shares of the social networking company’s stock valued at $6,425,000 after purchasing an additional 412 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on META. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, August 27th. Citigroup upped their price objective on Meta Platforms from $895.00 to $905.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. President Capital upgraded shares of Meta Platforms from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $660.00 to $897.00 in a research report on Thursday, September 24th. Arete Research raised their price target on shares of Meta Platforms from $735.00 to $806.00 and gave the company a “buy” rating in a research note on Wednesday, September 16th. Finally, TD Cowen decreased their price objective on Meta Platforms from $865.00 to $850.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $833.12.

Meta Platforms Price Performance

Meta Platforms stock opened at $623.61 on Friday. The stock has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.09 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $779.82. The stock’s 50 day moving average price is $679.23 and its two-hundred day moving average price is $631.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90.

Meta Platforms (NASDAQ:META) last released its earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.86. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The company had revenue of $64.60 billion for the quarter, compared to the consensus estimate of $63.34 billion. During the same quarter in the previous year, the company earned $7.25 EPS. Meta Platforms’s quarterly revenue was up 26.1% compared to the same quarter last year. On average, equities analysts predict that Meta Platforms, Inc. will post 29.01 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 21st were given a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms’s payout ratio is presently 7.16%.

Insider Buying and Selling

In related news, COO Javier Olivan sold 946 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $631.03, for a total transaction of $596,954.38. Following the transaction, the chief operating officer directly owned 3,148 shares of the company’s stock, valued at approximately $1,986,482.44. This represents a 23.11% decrease in their position. 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. Over the last three months, insiders sold 150,973 shares of company stock valued at $103,128,307. Insiders own 13.42% of the company’s stock.

Latest Meta Platforms News

Investors following META have been watching these news items:

• Positive Sentiment: ETFs bought about $99.7 million of Meta shares on Nov. 10, a sign of institutional fund demand. ETFs Bought $99.7 Million of Meta Platforms
• Neutral Sentiment: COO Javier Olivan reported stock sales under a pre-arranged Rule 10b5-1 plan. Such planned sales are not necessarily a signal about the company’s outlook, but may still draw investor attention. SEC ownership filing
• Negative Sentiment: United Airlines barred AI agents from booking flights, raising doubts about a prominent potential use case for Meta’s Muse agent and adding pressure to expectations for AI-related growth. United Airlines Bars AI Agents From Booking Tickets

About Meta Platforms

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.