Core Wealth Advisors LLC Makes New Investment in Meta Platforms, Inc. $META

Core Wealth Advisors LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,036 shares of the social networking company’s stock, valued at approximately $684,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First National Bank Sioux Falls grew its holdings in shares of Meta Platforms by 0.7% during the fourth quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock worth $1,321,000 after buying an additional 14 shares in the last quarter. Levin Capital Strategies L.P. boosted its position in Meta Platforms by 1.4% during the fourth quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock worth $649,000 after acquiring an additional 14 shares during the last quarter. Vista Capital Partners Inc. boosted its position in Meta Platforms by 1.3% during the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after acquiring an additional 14 shares during the last quarter. Arcataur Capital Management LLC raised its holdings in Meta Platforms by 0.9% in the 4th quarter. Arcataur Capital Management LLC now owns 1,736 shares of the social networking company’s stock valued at $1,146,000 after acquiring an additional 15 shares during the last quarter. Finally, Acorn Creek Capital LLC raised its holdings in Meta Platforms by 0.7% in the 4th quarter. Acorn Creek Capital LLC now owns 2,118 shares of the social networking company’s stock valued at $1,398,000 after acquiring an additional 15 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: Meta announced a partnership with Associated Builders and Contractors to launch a $115 million workforce academy that will train construction technicians for its data center projects, helping address labor shortages and supporting its AI infrastructure expansion. Article Title
• Positive Sentiment: Italy’s competition regulator dropped its investigation into Meta’s WhatsApp AI bot, removing a legal overhang tied to how the company integrates AI into WhatsApp. Article Title
• Positive Sentiment: Meta also partnered with Best Buy to create “Meta Lab” experiential spaces where shoppers can test VR headsets and AI glasses, which could help boost hardware awareness and adoption. Article Title

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 7,847 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the sale, the chief technology officer directly owned 414 shares in the company, valued at approximately $251,641.62. This trade represents a 94.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the transaction, the chief operating officer directly owned 10,557 shares in the company, valued at $6,645,103.65. This trade represents a 20.83% decrease in their ownership of the stock. 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 three months, insiders sold 41,305 shares of company stock valued at $25,567,928. 13.53% of the stock is owned by company insiders.

Meta Platforms Trading Down 1.3%

Shares of META stock opened at $585.39 on Tuesday. 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 fifty-two week low of $520.26 and a fifty-two week high of $796.25. The firm’s 50 day moving average price is $619.59 and its two-hundred day moving average price is $636.72. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (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 company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same quarter in the prior year, the business earned $6.43 earnings per share. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms’s dividend payout ratio is currently 7.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. KeyCorp restated an “overweight” rating and set a $760.00 price objective on shares of Meta Platforms in a report on Thursday, April 30th. BNP Paribas Exane started coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set an “outperform” rating on the stock. Wedbush raised Meta Platforms from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 2nd. Roth Mkm restated a “buy” rating on shares of Meta Platforms in a report on Thursday, April 30th. Finally, Wells Fargo & Company dropped their price objective on shares of Meta Platforms from $770.00 to $765.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $840.60.

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.