1,029 Meta Platforms, Inc. $META Shares Bought by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co. Wealth Management increased its Meta stake by 2.4% in the third quarter, buying 1,029 shares to reach 44,809 shares valued at about $32.5 million.
• Institutional investors own 79.91% of Meta shares, with several other funds also increasing their positions during the quarter.
• Meta beat quarterly earnings and revenue estimates, reporting $7.40 per share and $64.6 billion in revenue, up 26.1% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $833.12.

GRIMES & Co WEALTH MANAGEMENT LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,809 shares of the social networking company's stock after acquiring an additional 1,029 shares during the quarter. Meta Platforms makes up 0.8% of GRIMES & Co WEALTH MANAGEMENT LLC's portfolio, making the stock its 29th biggest holding. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Meta Platforms were worth $32,494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in META. BOCHK Asset Management Ltd lifted its holdings in Meta Platforms by 6.5% in the 3rd quarter. BOCHK Asset Management Ltd now owns 22,960 shares of the social networking company's stock valued at $16,650,000 after purchasing an additional 1,410 shares in the last quarter. Next Level Wealth Planning LLC acquired a new position in shares of Meta Platforms in the third quarter valued at approximately $190,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of Meta Platforms by 24.2% during the third quarter. Blue Bell Private Wealth Management LLC now owns 1,552 shares of the social networking company's stock valued at $1,125,000 after buying an additional 302 shares during the period. Frederick Financial Consultants LLC lifted its stake in shares of Meta Platforms by 10.5% during the third quarter. Frederick Financial Consultants LLC now owns 1,236 shares of the social networking company's stock valued at $896,000 after buying an additional 117 shares during the period. Finally, Summit Wealth Group LLC Co. lifted its stake in shares of Meta Platforms by 243.6% during the third quarter. Summit Wealth Group LLC Co. now owns 13,081 shares of the social networking company's stock valued at $9,486,000 after buying an additional 9,274 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories 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 Ratings Changes

META has been the topic of a number of analyst reports. Arete Research raised their target price on shares of Meta Platforms from $735.00 to $806.00 and gave the stock a "buy" rating in a research report on Wednesday, September 16th. China Renaissance cut their price target on Meta Platforms from $825.00 to $700.00 and set a "buy" rating for the company in a report on Friday, July 31st. UBS Group reissued an "outperform" rating and set a $920.00 price target on shares of Meta Platforms in a research note on Thursday, October 22nd. Moffett Nathanson decreased their price objective on Meta Platforms from $800.00 to $740.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Finally, Evercore reaffirmed an "outperform" rating on shares of Meta Platforms in a research report on Thursday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $833.12.

Meta Platforms Price Performance

META opened at $610.15 on Friday. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $779.82. The company's 50 day simple moving average is $674.97 and its 200 day simple moving average is $632.16. The stock has a market capitalization of $1.56 trillion, a PE ratio of 20.80, a P/E/G ratio of 1.06 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping the consensus estimate of $6.54 by $0.86. The firm had revenue of $64.60 billion during the quarter, compared to analyst estimates of $63.34 billion. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. Meta Platforms's revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.25 earnings per share. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were paid a dividend of $0.5250 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's payout ratio is currently 7.16%.

Insider Activity

In other news, COO Javier Olivan sold 946 shares of the company's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $614.15, for a total transaction of $580,985.90. Following the completion of the sale, the chief operating officer directly owned 4,094 shares in the company, valued at $2,514,330.10. This represents a 18.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 151,090 shares of company stock worth $103,150,807. 13.53% of the stock is owned by insiders.

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.

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