New Millennium Group LLC Increases Position in Meta Platforms, Inc. $META

New Millennium Group LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,889 shares of the social networking company’s stock after purchasing an additional 1,650 shares during the quarter. Meta Platforms accounts for approximately 4.5% of New Millennium Group LLC’s investment portfolio, making the stock its 6th biggest holding. New Millennium Group LLC’s holdings in Meta Platforms were worth $10,488,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. First National Bank Sioux Falls lifted its position in shares of Meta Platforms by 0.7% in 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 purchasing an additional 14 shares in the last quarter. Levin Capital Strategies L.P. lifted its position in shares of Meta Platforms by 1.4% in the fourth quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock worth $649,000 after purchasing an additional 14 shares in the last quarter. Vista Capital Partners Inc. lifted its position in shares of Meta Platforms by 1.3% in the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after purchasing an additional 14 shares in the last quarter. Arcataur Capital Management LLC lifted its position in shares of Meta Platforms by 0.9% in the fourth quarter. Arcataur Capital Management LLC now owns 1,736 shares of the social networking company’s stock worth $1,146,000 after purchasing an additional 15 shares in the last quarter. Finally, Acorn Creek Capital LLC lifted its position in shares of Meta Platforms by 0.7% in the fourth quarter. Acorn Creek Capital LLC now owns 2,118 shares of the social networking company’s stock worth $1,398,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 2,778 shares of the company’s stock in a transaction on Monday, April 13th. The shares were 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. 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 at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the transaction, the chief financial officer owned 13,186 shares in the company, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. 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. Insiders have sold 40,890 shares of company stock valued at $25,315,558 in the last ninety days. Company insiders own 13.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on META. Bank of America cut their price objective 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. Stifel Nicolaus cut their price objective on shares of Meta Platforms from $805.00 to $780.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a research report on Friday, March 27th. Erste Group Bank lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Barclays upped their price target on shares of Meta Platforms from $800.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $840.19.

Key Meta Platforms News

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

• Positive Sentiment: Royal Bank of Canada reaffirmed its Outperform rating on Meta and set an $810 price target, signaling meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: A new AI adoption study ranked Meta among the top S&P 500 companies for AI execution, reinforcing the view that its AI investments are becoming strategically important. CNBC
• Positive Sentiment: Bank of America reiterated a Buy rating and said Meta’s AI monetization and enterprise adoption could help offset concerns about rising spending. Yahoo Finance / Investing.com
• Positive Sentiment: Several outlets highlighted Meta as a top AI and virtual reality stock, adding to the longer-term bullish narrative around its product pipeline and AI push. Motley Fool

Meta Platforms Stock Performance

NASDAQ META opened at $600.47 on Tuesday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $617.71 and its two-hundred day moving average price is $636.73. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The firm has a market capitalization of $1.52 trillion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.12 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 EPS for the quarter, beating 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 firm had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. During the same period in the previous year, the company earned $6.43 earnings per share. The company’s quarterly revenue was up 33.1% on a year-over-year basis. As a group, research analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

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 issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, June 15th. Meta Platforms’s payout ratio is currently 7.63%.

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.