Meta Platforms, Inc. $META Stock: Cullinan Associates Inc. Reduces Stake

Cullinan Associates Inc. reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 17.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,879 shares of the social networking company’s stock after selling 3,642 shares during the period. Meta Platforms accounts for 0.9% of Cullinan Associates Inc.’s holdings, making the stock its 26th biggest holding. Cullinan Associates Inc.’s holdings in Meta Platforms were worth $12,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in Meta Platforms by 4.0% in the second quarter. State Street Corp now owns 92,033,963 shares of the social networking company’s stock worth $51,841,811,000 after purchasing an additional 3,510,123 shares in the last quarter. Bank of America Corp DE increased its holdings in Meta Platforms by 14.6% during the 1st quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company’s stock worth $12,036,491,000 after purchasing an additional 2,673,494 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Meta Platforms by 1.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,836,063 shares of the social networking company’s stock valued at $7,230,426,000 after purchasing an additional 162,909 shares in the last quarter. Amundi raised its position in Meta Platforms by 18.1% during the 1st quarter. Amundi now owns 11,858,972 shares of the social networking company’s stock valued at $6,784,873,000 after purchasing an additional 1,815,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Meta Platforms by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,429,812 shares of the social networking company’s stock valued at $5,964,745,000 after purchasing an additional 404,948 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 946 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $631.03, for a total transaction of $596,954.38. Following the sale, the chief operating officer owned 3,148 shares of the company’s stock, valued at $1,986,482.44. This trade represents a 23.11% decrease in their ownership of the stock. The sale 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. In the last three months, insiders sold 150,973 shares of company stock worth $103,128,307. Corporate insiders own 13.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on META. Jefferies Financial Group upped their target price on Meta Platforms from $710.00 to $875.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Raymond James Financial raised their price target on Meta Platforms from $650.00 to $860.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 24th. Wells Fargo & Company decreased their price objective on Meta Platforms from $1,000.00 to $995.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Deutsche Bank upped their price objective on shares of Meta Platforms from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Friday, September 25th. Finally, Robert W. Baird lowered their price objective on shares of Meta Platforms from $830.00 to $750.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $833.12.

Meta Platforms Stock Down 0.8%

Meta Platforms stock opened at $623.61 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.59 trillion, a P/E ratio of 21.26, a P/E/G ratio of 1.09 and a beta of 1.28. The business has a fifty day moving average of $679.23 and a two-hundred day moving average of $631.88. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $779.82.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.86. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The business had revenue of $64.60 billion for the quarter, compared to the consensus estimate of $63.34 billion. During the same period last year, the business posted $7.25 EPS. The business’s revenue was up 26.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 29.01 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 21st were paid a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 21st. Meta Platforms’s dividend payout ratio is 7.16%.

Key Stories Impacting Meta Platforms

These are some of the META stories that stood out recently:

• Positive Sentiment: ETFs bought about $99.7 million of Meta shares on Nov. 10, a sign of institutional fund demand. ETFs Bought $99.7 Million of Meta Platforms
• Positive Sentiment: JPMorgan named Meta its preferred internet stock, citing AI-enhanced advertising and the potential for Family of Apps ad revenue to compare favorably with Google Search. Meta Platforms Wins JPMorgan Backing
• Negative Sentiment: United Airlines barred AI agents from booking flights, raising doubts about a prominent potential use case for Meta’s Muse agent and adding pressure to expectations for AI-related growth. United Airlines Bars AI Agents From Booking Tickets

About Meta Platforms

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.