Lorne Steinberg Wealth Management Inc. lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 34.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,634 shares of the social networking company’s stock after selling 7,193 shares during the period. Meta Platforms comprises approximately 2.6% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 11th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Meta Platforms were worth $10,063,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in META. Pachira Investments Inc. lifted its holdings in Meta Platforms by 3.0% during the second quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock valued at $360,000 after purchasing an additional 14 shares during the last quarter. Hemington Wealth Management grew its position in Meta Platforms by 0.6% during the second 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 last quarter. Myecfo LLC grew its position in Meta Platforms by 2.0% during the second 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. Shelton Wealth Management LLC grew its holdings in shares of Meta Platforms by 0.9% in the second quarter. Shelton Wealth Management LLC now owns 1,764 shares of the social networking company’s stock worth $1,302,000 after purchasing an additional 15 shares during the last quarter. Finally, Kooman & Associates grew its holdings in shares of Meta Platforms by 2.8% in the second quarter. Kooman & Associates now owns 544 shares of the social networking company’s stock worth $402,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.
Insider Buying and Selling
In other news, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 18,332 shares of Meta Platforms stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $764.71, for a total value of $14,018,663.72. Following the completion of the transaction, the chief financial officer directly owned 84,141 shares of the company’s stock, valued at approximately $64,343,464.11. This represents a 17.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 213,663 shares of company stock worth $164,595,807 in the last 90 days. 13.61% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on META. Weiss Ratings restated a “buy (b)” rating on shares of Meta Platforms in a report on Wednesday, October 8th. Sanford C. Bernstein lifted their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $780.00 to $860.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Pivotal Research lifted their price target on shares of Meta Platforms from $830.00 to $930.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Finally, Loop Capital reiterated a “buy” rating and issued a $980.00 price target (up previously from $888.00) on shares of Meta Platforms in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $829.66.
Read Our Latest Stock Analysis on META
Meta Platforms Stock Performance
Shares of META stock opened at $751.67 on Thursday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The stock has a market cap of $1.89 trillion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average price is $741.86 and its 200-day moving average price is $696.13.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. During the same quarter in the previous year, the firm posted $6.03 EPS. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. Meta Platforms has set its Q4 2025 guidance at EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s payout ratio is 7.60%.
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.
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