Nolet Wealth Management LLC Acquires New Position in Meta Platforms, Inc. $META

Nolet Wealth Management LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,224 shares of the social networking company’s stock, valued at approximately $808,000.

Several other hedge funds and other institutional investors have also bought and sold shares of META. Brighton Jones LLC boosted its position in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Meta Platforms by 10.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after buying an additional 875 shares during the period. Headwater Capital Co Ltd lifted its stake in shares of Meta Platforms by 294.7% in the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after acquiring an additional 112,000 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in shares of Meta Platforms in the 2nd quarter valued at about $213,000. Finally, Capital & Planning LLC purchased a new stake in Meta Platforms during the 2nd quarter valued at about $322,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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 Price Performance

Shares of NASDAQ:META opened at $577.22 on Friday. The stock’s 50-day moving average is $621.27 and its 200 day moving average is $634.15. The company has a market cap of $1.46 trillion, a PE ratio of 20.98, a P/E/G ratio of 1.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business’s revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the business posted $6.43 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.

Wall Street Analyst Weigh In

META has been the topic of several recent research reports. Benchmark started coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set a “buy” rating on the stock. Susquehanna upgraded Meta Platforms from a “positive” rating to a “positive” rating in a research report on Tuesday, June 2nd. Arete Research set a $735.00 price objective on Meta Platforms and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Meta Platforms in a report on Friday, March 27th. Finally, Wolfe Research decreased their target price on shares of Meta Platforms from $850.00 to $800.00 and set an “outperform” rating on the stock in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $840.60.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Curtis J. Mahoney sold 2,079 shares of the business’s stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 140 shares of the company’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 completion of the transaction, the chief operating officer owned 12,846 shares of the company’s stock, valued at $7,707,600. This trade represents a 1.08% decrease in their ownership of the stock. 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 40,568 shares of company stock worth $25,057,365 over the last quarter. 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.