9,274 Meta Platforms, Inc. $META Shares Acquired by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 243.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,081 shares of the social networking company’s stock after buying an additional 9,274 shares during the quarter. Meta Platforms comprises approximately 0.6% of Summit Wealth Group LLC Co.’s investment portfolio, making the stock its 27th biggest holding. Summit Wealth Group LLC Co.’s holdings in Meta Platforms were worth $9,486,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Advantage Trust Co acquired a new position in shares of Meta Platforms during the 2nd quarter valued at about $28,000. Philadelphia Investment Partners LLC purchased a new position in shares of Meta Platforms during the 2nd quarter worth about $32,000. Horizons Wealth Management purchased a new position in shares of Meta Platforms during the 3rd quarter worth about $33,000. Axiom Investment Management LLC acquired a new stake in shares of Meta Platforms in the first quarter worth approximately $36,000. Finally, Schuylkill Financial LLC acquired a new stake in shares of Meta Platforms in the second quarter worth approximately $36,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Meta Platforms

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

• Positive Sentiment: Meta launched Spaces, a collaboration feature for its Muse AI agents, following the rollout of Muse Voice. The new offerings may help strengthen user engagement and expand Meta’s consumer AI ecosystem. Meta introduces Spaces
• Positive Sentiment: Recent earnings commentary points to AI supporting Meta’s advertising operations, reinforcing the potential for the company’s AI investments to generate revenue. Takeaways from recent earnings
• Neutral Sentiment: Meta paused planned updates to its terms and is keeping existing rules in place. The move avoids an immediate policy change, though the underlying issues remain unresolved. Meta pauses planned terms updates
• Neutral Sentiment: Plans for new nonvoting Class C shares have been described as effectively creating a 2-for-1 split. A split changes the number of shares, but does not by itself change the company’s underlying value; the structure preserves Mark Zuckerberg’s voting control. Is Meta Platforms next for a stock split?
• Negative Sentiment: Meta and other platforms sued to block California restrictions on social-media features for users under 16. The case adds regulatory uncertainty and potential legal costs. Platforms sue over California teen social-media law
• Negative Sentiment: Meta warned that political backlash and possible limits on data-center construction could complicate its AI expansion. Its $15 billion senior-notes offering also highlights the scale of financing required for investment. Data-center expansion concerns
• Negative Sentiment: Reported ETF net selling and insider share sales may add short-term pressure, although the disclosed insider transaction was made under a pre-arranged trading plan. ETFs are net sellers of Meta Platforms

Analyst Upgrades and Downgrades

META has been the subject of a number of recent analyst reports. New Street Research lowered their target price on shares of Meta Platforms from $730.00 to $700.00 and set a “buy” rating for the company in a report on Friday, July 31st. Roth Capital cut their price target on shares of Meta Platforms from $820.00 to $750.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Citic Securities decreased their price target on shares of Meta Platforms from $770.00 to $718.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. 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. Finally, Phillip Securities raised shares of Meta Platforms from a “buy” rating to a “strong-buy” rating and lowered their price objective for the company from $795.00 to $750.00 in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $833.12.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 9,196 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $550.61, for a total value of $5,063,409.56. Following the completion of the transaction, the chief financial officer owned 13,186 shares in the company, valued at $7,260,343.46. This represents a 41.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $4,379,184.00. Following the completion of the transaction, the chief technology officer directly owned 828 shares in the company, valued at $462,024. This represents a 90.46% decrease in their position. 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. Insiders have sold a total of 151,090 shares of company stock valued at $103,150,807 over the last quarter. Insiders own 13.53% of the company’s stock.

Meta Platforms Stock Up 0.8%

Shares of NASDAQ META opened at $610.15 on Friday. The stock has a fifty day moving average price of $674.97 and a 200 day moving average price of $632.16. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.30. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $779.82. The company has a market cap of $1.56 trillion, a P/E ratio of 20.80, a P/E/G ratio of 1.06 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping 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 company had revenue of $64.60 billion for the quarter, compared to analysts’ expectations of $63.34 billion. During the same quarter in the previous year, the firm posted $7.25 earnings per share. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. Research analysts anticipate that Meta Platforms, Inc. will post 29.01 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, September 21st were issued a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms’s dividend payout ratio (DPR) is currently 7.16%.

Meta Platforms Company Profile

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.

Founded in 2004 as Facebook by Mark Zuckerberg and fellow students, the company changed its name to Meta Platforms in 2021 to reflect its broader focus on building social technologies and immersive digital experiences.