SCS Capital Management LLC Has $28.43 Million Stock Position in Meta Platforms, Inc. $META

SCS Capital Management LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,066 shares of the social networking company’s stock after selling 1,035 shares during the period. SCS Capital Management LLC’s holdings in Meta Platforms were worth $28,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westchester Capital Management Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $26,000. RHL Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $29,000. Key Capital Management INC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $48,000. Finally, Entrust Financial LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $48,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.1%

META opened at $584.59 on Wednesday. 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 quick ratio of 2.35 and a current ratio of 2.35. The company has a market capitalization of $1.48 trillion, a P/E ratio of 21.25, a P/E/G ratio of 1.04 and a beta of 1.23. The stock has a fifty day moving average of $620.77 and a 200-day moving average of $636.68.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. During the same quarter last year, the firm earned $6.43 earnings per share. The company’s revenue was up 33.1% on a year-over-year basis. On average, equities analysts expect 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 paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s payout ratio is 7.63%.

Analysts Set New Price Targets

Several research firms recently weighed in on META. Mizuho decreased their target price 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. UBS Group cut shares of Meta Platforms from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 2nd. Wolfe Research decreased their target price on shares of Meta Platforms from $850.00 to $800.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Cantor Fitzgerald decreased their target price on shares of Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Arete Research set a $735.00 target price on shares of Meta Platforms and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $840.60.

Insider Buying and Selling

In related news, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 10,557 shares of the company’s stock, valued at $6,645,103.65. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total value of $1,268,023.68. Following the completion of the transaction, the insider directly owned 1,118 shares of the company’s stock, valued at approximately $681,890.56. This trade represents a 65.03% 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 sold 41,305 shares of company stock worth $25,567,928 in the last ninety days. 13.53% of the stock is owned by company insiders.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: Meta continues to be viewed as a major AI winner, with Truist calling out a potential next $20 billion business and analysts remaining bullish on the company’s long-term earnings power.
• Positive Sentiment: The company’s $115 million workforce academy and related data-center training initiatives reinforce its aggressive AI infrastructure buildout and commitment to scaling capacity.
• Positive Sentiment: Meta’s Best Buy partnership to showcase AI glasses and VR headsets could help drive consumer interest and future hardware adoption.
• Negative Sentiment: EU regulators ordered Meta to restore WhatsApp access for rival AI chatbots, adding antitrust pressure and potentially weakening Meta’s platform advantage.
• Negative Sentiment: A newly reported AI bug that enabled Instagram account takeovers raises fresh cybersecurity and trust concerns for the platform.
• Negative Sentiment: Reports that Meta has delayed a key AI rollout are fueling concern that monetization of its AI investments may take longer than expected.

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.