Westpac Banking Corp Sells 3,068 Shares of Meta Platforms, Inc. $META

Westpac Banking Corp decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,803 shares of the social networking company’s stock after selling 3,068 shares during the period. Meta Platforms accounts for approximately 3.1% of Westpac Banking Corp’s portfolio, making the stock its 5th biggest holding. Westpac Banking Corp’s holdings in Meta Platforms were worth $47,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Meta Platforms by 0.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock valued at $2,587,000 after buying an additional 13 shares during the last quarter. Pachira Investments Inc. grew its holdings in shares of Meta Platforms by 3.0% during the second quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock worth $360,000 after buying an additional 14 shares during the last quarter. Hemington Wealth Management increased its position in Meta Platforms by 0.6% in the 2nd quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock valued at $1,641,000 after acquiring an additional 14 shares during the period. Myecfo LLC raised its stake in Meta Platforms by 2.0% during the 2nd quarter. Myecfo LLC now owns 776 shares of the social networking company’s stock valued at $573,000 after acquiring an additional 15 shares during the last quarter. Finally, Shelton Wealth Management LLC grew its stake in shares of Meta Platforms by 0.9% in the 2nd quarter. Shelton Wealth Management LLC now owns 1,764 shares of the social networking company’s stock valued at $1,302,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on META shares. Zacks Research downgraded Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, October 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Meta Platforms in a report on Tuesday, October 14th. UBS Group increased their price objective on Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Citigroup lowered their price target on shares of Meta Platforms from $915.00 to $850.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $823.93.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 2,610 shares of the firm’s stock in a transaction dated Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the sale, the chief operating officer directly owned 9,784 shares of the company’s stock, valued at approximately $5,962,956.64. This trade represents a 21.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the completion of the sale, the chief technology officer owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This trade represents a 82.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 41,959 shares of company stock valued at $26,759,811 in the last three months. Company insiders own 13.61% of the company’s stock.

Meta Platforms Stock Down 0.4%

Shares of NASDAQ META opened at $633.61 on Thursday. The firm’s 50-day moving average is $688.93 and its two-hundred day moving average is $706.33. The company has a market capitalization of $1.60 trillion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.33 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The firm had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.Meta Platforms’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.03 EPS. Meta Platforms has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s dividend payout ratio is presently 9.28%.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.