Norges Bank Investment Trust (NBIM), the world’s largest sovereign wealth fund, was among the biggest bulls on Meta stock, increasing its stake in Meta (NASDAQ:META | META Price Prediction) by 3,610,287 shares, bringing its total to 34,072,026 shares in its most recent 13-F filing.
META’s ownership is dominated by institutions, holding 67.49% of its 2,533,659,265 outstanding shares, giving the stock a market cap of $1.47 trillion. NBIM’s stake represents 1.34% of total shares, positioning it as a significant but not dominant player compared to top holders like Founder and CEO, Mark Zuckerberg, with 342,606,985 shares (13.52%), and The Vanguard Group, Inc., with 191,198,005 shares (7.55%). The ownership breakdown is detailed in the following table:
|
Type
|
Common Stock Equivalent Held
|
% of Total Shares Outstanding
|
Market Value (USD in mm)
|
|---|---|---|---|
|
Institutions
|
1,710,083,917
|
67.49
|
1,034,429.8
|
|
Individuals/Insiders
|
344,648,024
|
13.60
|
208,477.6
|
|
Public and Other
|
476,611,301
|
18.81
|
288,302.2
|
|
Corporations (Public)
|
13,907
|
0.00
|
8.4
|
|
State Owned Shares
|
2,302,116
|
0.09
|
1,392.6
|
|
Total
|
2,533,659,265
|
100.00
|
1,532,610.5
|
Institutional ownership is further broken down by type, with traditional investment managers holding 86.66% of institutional shares, and sovereign wealth funds like NBIM contributing 2.16%.
Top Buyers and Sellers
Norges Bank Investment Management’s increase of 3,610,287 shares places it among the top buyers in the period from September 30 to December 31, 2024. Other notable buyers include Northern Trust Global Investments, adding 2,787,832 shares to reach 23,445,565, and BlackRock, Inc., up by 2,456,719 shares to 164,547,096. On the selling side, FMR LLC reduced its holdings by 2,072,490 shares to 129,032,241, and Capital Research and Management Company cut 2,014,066 shares to 105,013,862. This activity, detailed in the table below, suggests a mixed sentiment among institutions:
|
Buyer/Seller
|
Common Stock Equivalent Held
|
Change
|
|---|---|---|
|
Norges Bank Investment Management (Buyer)
|
34,072,026
|
3,610,287
|
|
Northern Trust Global Investments (Buyer)
|
23,445,565
|
2,787,832
|
|
BlackRock, Inc. (Buyer)
|
164,547,096
|
2,456,719
|
|
FMR LLC (Seller)
|
129,032,241
|
(2,072,490)
|
|
Capital Research and Management (Seller)
|
105,013,862
|
(2,014,066)
|
Meta Platforms Stock Performance
Meta Platforms wrapped up 2024 with an impressive fourth quarter, reporting revenue of $48.385 billion, a 21% increase from the previous year, surpassing the consensus estimate of $46.994 billion by nearly 3%. This growth highlights Meta’s ability to effectively leverage advertiser demand and user engagement across its Family of Apps. Earnings per share (EPS) jumped to $8.02, exceeding the forecasted $6.74 by 18.99%. This marks another quarter of solid outperformance, continuing a strong trend of EPS surprises throughout 2024, including 8.03% in Q1, 7.95% in Q2, and 13.77% in Q3.
For the full year, Meta generated $164.501 billion in revenue, surpassing the $162.992 billion estimate by 0.93%. EPS reached $23.86, beating the expected $22.68 by 5.20%. In Q4, ad revenue totaled $46.8 billion, reflecting a 21% growth, driven by a 6% increase in impressions and a 14% rise in the price per ad. The strongest growth came from online commerce and regions like Rest of World (up 27%) and Asia Pacific (up 23%).
Operating income for the quarter was $23.4 billion, yielding a robust 48% margin. This was supported by a 5% increase in expenses, totaling $25 billion, which was offset by a $1.55 billion reduction in legal accruals. Capital expenditures of $14.8 billion helped drive infrastructure growth, while free cash flow came in at $13.2 billion. Meta continues to see impressive engagement, with over 3.3 billion daily active users across its platforms.
Wall Street’s View on Meta
Analysts still believe Meta will be a winner in the coming year. According to consensus estimates from Capital IQ, the mean price target is $765.07, implying a 25.9% upside from today’s closing price. The range spans a high of $935.00—suggesting a potential 53.9% gain—and a low of $505.00, indicating a possible 16.9% decline.
Based on 58 estimates, the stock carries a “Buy” recommendation (1.49 on a 1-5 scale), with 42 analysts rating it a Buy, 13 Outperform, 6 Hold, and 2 Underperform.
This news alert was generated with data from Capital IQ and 24/7 Wall Street.
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