Thryve Wealth Management LLC Buys New Stake in Meta Platforms, Inc. $META

Thryve Wealth Management LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,556 shares of the social networking company’s stock, valued at approximately $1,027,000.

Several other large investors have also made changes to their positions in the company. Westchester Capital Management Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth approximately $26,000. RHL Group LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC bought a new stake in Meta Platforms during the 4th quarter worth about $29,000. Niles Investment Management LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth approximately $29,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $42,000. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of several analyst reports. TD Cowen cut 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. Bank of America cut their price target on shares of Meta Platforms from $885.00 to $820.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Wall Street Zen cut Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Cantor Fitzgerald cut 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, Sanford C. Bernstein cut their price target on Meta Platforms from $900.00 to $850.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $840.60.

Meta Platforms News Roundup

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

• Positive Sentiment: Wall Street commentary remains constructive on Meta’s long-term AI strategy, with Evercore ISI’s Mark Mahaney naming META one of the best “Magnificent 7” stock buys, reinforcing the view that the stock may still offer upside after its recent pullback. Article: Famous Wall Street Tech Analyst Names Meta and Amazon the Best Magnificent 7 Stock Buys Today
• Positive Sentiment: Meta continues to expand its AI infrastructure, including new computing deals with Crusoe and a strategic data-center partnership in India, which supports the company’s long-term AI capacity and monetization plans. Article: Meta signs new AI computing deals with data center firm Crusoe
• Positive Sentiment: Meta also drew favorable attention for rolling out new AI features for Facebook creators and broader AI tools that could deepen engagement and create new ad products over time. Article: Meta Platforms Rolls Out New AI Features On Facebook For Content Creators
• Neutral Sentiment: Meta continues to get attention for its cloud-computing ambitions, but that move is still viewed as a longer-term optionality story rather than an immediate earnings driver. Article: Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
• Neutral Sentiment: Meta’s strong last reported quarter and upcoming dividend remain supportive, but these are already well known and are not the main catalysts behind today’s trading. Article: META stock and company profile
• Negative Sentiment: Sentiment was hurt by reports that a senior AI executive is leaving Meta during a major AI transition, raising execution concerns at a time when the company is trying to accelerate its artificial intelligence roadmap. Article: Meta head of product for ‘AI for work’ transformation is leaving company
• Negative Sentiment: Meta was also hit by reports that attackers exploited its AI-powered support chatbot to take over high-profile Instagram accounts, adding security and trust concerns around its AI tools and platform controls. Article: Meta faces AI support breach as key internal AI executive exits
• Negative Sentiment: Meta is also facing regulatory and legal pressure, including a Washington high court decision upholding a $35 million campaign finance penalty, which adds to headline risk. Article: Washington high court upholds $35 million campaign finance penalty against Meta

Meta Platforms Stock Performance

NASDAQ:META opened at $577.22 on Friday. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The stock has a fifty day moving average price of $621.27 and a 200-day moving average price of $634.15.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period last year, the firm earned $6.43 EPS. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend 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%.

Insider Activity

In related news, insider Curtis J. Mahoney sold 2,079 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the sale, the insider directly owned 1,118 shares of the company’s stock, valued at approximately $681,890.56. The trade was a 65.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 140 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $600.00, for a total transaction of $84,000.00. Following the sale, the chief operating officer directly owned 12,846 shares in the company, valued at approximately $7,707,600. The trade was a 1.08% 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. In the last three months, insiders have sold 40,568 shares of company stock worth $25,057,365. Corporate insiders own 13.53% of the company’s stock.

Meta Platforms Company 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.