Prestige Wealth Management Group LLC Sells 2,976 Shares of Meta Platforms, Inc. $META

Prestige Wealth Management Group LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 43.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,876 shares of the social networking company’s stock after selling 2,976 shares during the period. Prestige Wealth Management Group LLC’s holdings in Meta Platforms were worth $2,559,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in META. Westchester Capital Management Inc. bought a new position in shares of Meta Platforms in the 3rd quarter valued at about $26,000. RHL Group LLC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC bought a new position in Meta Platforms in the fourth quarter valued at approximately $29,000. Key Capital Management INC acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $48,000. Finally, Entrust Financial LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $48,000. Institutional investors own 79.91% of the company’s stock.

Key Meta Platforms News

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

• Positive Sentiment: Analysts and bullish commentators reiterated that Meta may be building a large new subscription opportunity and that the stock still screens as attractive versus its growth potential. Truist says Meta has found its next $20 billion business, stock set to gain more than 40%
• Positive Sentiment: Meta announced a major AI data center lease in India with Reliance Industries, signaling continued infrastructure investment to support its long-term AI strategy and global scale. EU regulators order Meta to allow rival AI chatbots free access to WhatsApp
• Positive Sentiment: Several research pieces highlighted Meta as a long-term AI and advertising winner, arguing that the market may be discounting the value of its AI investments too harshly. Meta: The Market’s Perception On AI CapEx Seems Misplaced
• Neutral Sentiment: Meta drew additional attention after being named in “best stocks to buy” and “forever stock” lists, which may support sentiment but is not a company-specific catalyst by itself. 5 Best Forever Stocks to Buy According to Analysts
• Negative Sentiment: EU regulators ordered Meta to restore WhatsApp access for rival AI chatbots during an antitrust probe, adding another regulatory overhang to the company’s AI and messaging strategy. EU regulators order Meta to allow rival AI chatbots free access to WhatsApp
• Negative Sentiment: Reports of an AI-related Instagram security bug and a landmark youth social-media addiction case increase legal, reputational, and platform-risk concerns. Meta A.I. Bug Allowed Hackers to Take Over Instagram Accounts

Analyst Upgrades and Downgrades

META has been the topic of a number of recent analyst reports. TD Cowen lowered their target price on shares of Meta Platforms from $820.00 to $800.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Mizuho cut their price target on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Guggenheim decreased their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Rosenblatt Securities restated a “buy” rating and set a $1,015.00 price objective on shares of Meta Platforms in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group cut shares of Meta Platforms from a “buy” rating to a “sell” rating in a report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $840.60.

Insider Activity at Meta Platforms

In other news, Director Robert M. Kimmitt sold 504 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $629.29, for a total value of $317,162.16. Following the transaction, the director owned 3,943 shares of the company’s stock, valued at approximately $2,481,290.47. This represents a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer owned 414 shares in the company, valued at approximately $251,641.62. This trade represents a 94.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders have sold 41,305 shares of company stock valued at $25,567,928. Insiders own 13.53% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $570.98 on Thursday. The firm has a market capitalization of $1.44 trillion, a PE ratio of 20.76, a PEG ratio of 1.04 and a beta of 1.23. The company’s 50-day moving average is $621.46 and its 200-day moving average is $636.55. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping 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 the consensus estimate of $55.56 billion. During the same quarter in the previous year, the firm posted $6.43 EPS. Meta Platforms’s revenue was up 33.1% compared to the same quarter last year. Equities analysts forecast that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.4%. Meta Platforms’s dividend payout ratio (DPR) is 7.63%.

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.