Meta Platforms, Inc. $META is Jennison Associates LLC’s 8th Largest Position

Jennison Associates LLC cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,865,939 shares of the social networking company’s stock after selling 484,599 shares during the quarter. Meta Platforms makes up about 3.1% of Jennison Associates LLC’s investment portfolio, making the stock its 8th largest position. Jennison Associates LLC owned 0.31% of Meta Platforms worth $4,500,339,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. RHL Group LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC purchased a new position in Meta Platforms in the 4th quarter worth $29,000. Niles Investment Management LLC purchased a new position in Meta Platforms in the 4th quarter worth $29,000. Bayban lifted its stake in Meta Platforms by 100.0% in the first quarter. Bayban now owns 70 shares of the social networking company’s stock worth $40,000 after purchasing an additional 35 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the fourth quarter worth $42,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 3.4%

Shares of NASDAQ META opened at $606.10 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25. The firm has a market capitalization of $1.53 trillion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. The firm has a fifty day simple moving average of $604.90 and a two-hundred day simple moving average of $625.98.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. During the same quarter in the previous year, the firm posted $6.43 EPS. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. Equities analysts expect that Meta Platforms, Inc. will post 30.07 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms’s payout ratio is presently 7.63%.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: A Florida teen dropped a social-media addiction lawsuit against Meta before trial, reducing near-term legal pressure and removing a potential headline risk for the company. Reuters article
• Positive Sentiment: Wells Fargo reportedly raised its price target on Meta, reinforcing Wall Street’s bullish long-term view despite near-term volatility. Article
• Positive Sentiment: Jefferies said Meta’s AI glasses could become a meaningful long-term hardware growth opportunity, highlighting the company’s first-mover advantage in AI wearables. Article
• Positive Sentiment: Analysts and commentators continue to point to strong demand for Meta’s data-center and AI infrastructure buildout, with some seeing that spending as evidence of aggressive positioning in the AI race. Article
• Neutral Sentiment: Meta launched a new AI-optimism ad campaign and Zuckerberg has been publicly pushing back against “AI doomerism,” but the messaging also highlights ongoing backlash over AI risks and product criticism. Article
• Neutral Sentiment: Meta’s stock is in focus ahead of earnings, with some technical traders noting it is trading below several key moving averages and could remain volatile if results or guidance disappoint. Article
• Negative Sentiment: Meta dropped out of a major clean-energy pact while its natural-gas power buildout accelerates, which could fuel criticism from ESG-focused investors and increase scrutiny of its AI infrastructure strategy. Article
• Negative Sentiment: Several reports suggest investors are worried about Meta’s heavy AI capex, with comparisons to other megacap tech names showing the market is increasingly focused on whether spending will pay off. Article

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BNP Paribas Exane assumed coverage on Meta Platforms in a research note on Tuesday, June 2nd. They set an “outperform” rating on the stock. Morgan Stanley lowered their target price on Meta Platforms from $825.00 to $775.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Roth Capital restated a “buy” rating on shares of Meta Platforms in a report on Thursday, April 30th. Piper Sandler began coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set an “overweight” rating on the stock. Finally, Citizens Jmp decreased their price target on Meta Platforms from $825.00 to $800.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Five analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $835.64.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 9,195 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total value of $5,589,088.80. Following the completion of the transaction, the chief financial officer owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their position. The sale was disclosed in a legal filing 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 3,348 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,948 shares of company stock worth $23,184,319 over the last quarter. Insiders own 13.53% of the company’s stock.

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.