Meta Platforms, Inc. $META Stock Holdings Increased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 1,887.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,010 shares of the social networking company’s stock after purchasing an additional 19,003 shares during the period. Meta Platforms accounts for 0.9% of Provenance Wealth Advisors LLC’s portfolio, making the stock its 21st largest position. Provenance Wealth Advisors LLC’s holdings in Meta Platforms were worth $14,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in META. Fairtree Asset Management Pty Ltd boosted its stake in Meta Platforms by 18.6% during the 2nd quarter. Fairtree Asset Management Pty Ltd now owns 18,777 shares of the social networking company’s stock valued at $10,577,000 after purchasing an additional 2,939 shares during the period. Madison Wealth Partners Inc grew its position in Meta Platforms by 33.6% in the 2nd quarter. Madison Wealth Partners Inc now owns 3,031 shares of the social networking company’s stock worth $1,707,000 after purchasing an additional 763 shares during the last quarter. William John Sempolinski acquired a new stake in shares of Meta Platforms in the second quarter valued at approximately $3,107,000. Sone Capital Management LLC increased its stake in shares of Meta Platforms by 38.2% in the second quarter. Sone Capital Management LLC now owns 16,059 shares of the social networking company’s stock valued at $9,046,000 after purchasing an additional 4,440 shares during the period. Finally, Lakewood Capital Management LP increased its stake in shares of Meta Platforms by 63.7% in the second quarter. Lakewood Capital Management LP now owns 115,985 shares of the social networking company’s stock valued at $65,333,000 after purchasing an additional 45,130 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

More Meta Platforms News

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

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on Meta Platforms from $763.00 to $1,000.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. BMO Capital Markets increased their price objective on Meta Platforms from $580.00 to $685.00 and gave the stock a “market perform” rating in a report on Thursday, October 22nd. Pivotal Research raised their target price on Meta Platforms from $930.00 to $960.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Citigroup lifted their target price on Meta Platforms from $895.00 to $905.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Raymond James Financial lifted their target price 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. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $833.12.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $610.15 on Monday. The company has a 50 day moving average of $674.97 and a 200-day moving average of $632.16. The firm 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, Inc. has a twelve month low of $520.26 and a twelve month high of $779.82. 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 (NASDAQ:META) last posted its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, beating analysts’ consensus estimates of $6.54 by $0.86. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The business had revenue of $64.60 billion for the quarter, compared to analyst estimates of $63.34 billion. During the same quarter last year, the business earned $7.25 earnings per share. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. As a group, analysts anticipate that Meta Platforms, Inc. will post 29.01 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders 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 yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 7.16%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 27,474 shares of Meta Platforms stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $777.44, for a total transaction of $21,359,386.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,196 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total transaction of $5,063,409.56. Following the completion of the sale, the chief financial officer owned 13,186 shares in the company, valued at approximately $7,260,343.46. This trade represents a 41.09% 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 sold a total of 149,398 shares of company stock worth $102,134,435 in the last quarter. 13.42% of the stock is currently owned by corporate insiders.

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.

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.