1,107 Meta Platforms, Inc. $META Shares Purchased by Ascent Group LLC

Key Points

• Ascent Group increased its Meta stake by 2.1% in the third quarter, buying 1,107 shares to bring its holdings to 54,608 shares, valued at about $39.6 million.
• Meta reported quarterly earnings of $7.40 per share, beating the $6.54 consensus estimate, while revenue of $64.6 billion exceeded forecasts and rose 26.1% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $833.12. Institutional investors and hedge funds own 79.91% of the stock.

Ascent Group LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,608 shares of the social networking company's stock after acquiring an additional 1,107 shares during the quarter. Meta Platforms accounts for about 1.2% of Ascent Group LLC's portfolio, making the stock its 15th largest position. Ascent Group LLC's holdings in Meta Platforms were worth $39,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Advantage Trust Co acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $28,000. Philadelphia Investment Partners LLC purchased a new position in shares of Meta Platforms in the 2nd quarter valued at about $32,000. Horizons Wealth Management purchased a new position in shares of Meta Platforms in the 3rd quarter valued at about $33,000. Axiom Investment Management LLC acquired a new stake in shares of Meta Platforms during the 1st quarter worth about $36,000. Finally, Schuylkill Financial LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter worth about $36,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 5.1%

Shares of NASDAQ:META opened at $641.37 on Tuesday. The stock has a market cap of $1.64 trillion, a P/E ratio of 21.87, a P/E/G ratio of 1.09 and a beta of 1.28. The firm has a fifty day moving average price of $676.23 and a 200 day moving average price of $632.30. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.90 and a quick ratio of 1.90. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $779.82.

Meta Platforms (NASDAQ:META - Get Free Report) 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. The company had revenue of $64.60 billion for 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 quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the business posted $7.25 earnings per share. Sell-side analysts predict 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. Shareholders of record on Monday, September 21st were given 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 Buying and Selling

In other news, CAO Aaron Anderson sold 3,240 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $618.06, for a total value of $2,002,514.40. Following the transaction, the chief accounting officer owned 6,271 shares of the company's stock, valued at approximately $3,875,854.26. The trade was a 34.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan Li sold 9,196 shares of the business's stock in a transaction that occurred on 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 directly owned 13,186 shares in the company, valued at approximately $7,260,343.46. The trade was a 41.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 149,398 shares of company stock worth $102,134,435. 13.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on META. Piper Sandler lowered their price target on Meta Platforms from $875.00 to $850.00 and set an "overweight" rating for the company in a report on Thursday, October 22nd. Cantor Fitzgerald boosted their price objective on shares of Meta Platforms from $840.00 to $860.00 and gave the stock an "overweight" rating in a research report on Thursday, October 22nd. Tigress Financial restated a "strong-buy" rating and issued a $945.00 target price (down from $995.00) on shares of Meta Platforms in a report on Thursday, September 24th. Raymond James Financial upped their target price on shares of Meta Platforms from $650.00 to $860.00 and gave the company a "strong-buy" rating in a report on Thursday, September 24th. Finally, Monness Crespi & Hardt reaffirmed a "buy" rating and issued a $875.00 target price on shares of Meta Platforms in a research report on Thursday, October 22nd. Three analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $833.12.

Meta Platforms News Roundup

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

• Positive Sentiment: JPMorgan added Meta to its Analyst Focus List as a preferred internet stock, citing the strength of AI-powered advertising and potential new monetization opportunities. The endorsement helped lift shares. Article: Meta stock surges over 5% today: here's why
• Positive Sentiment: Meta released Muse Ember, a lightweight, cost-efficient AI model built for agent tasks such as coding and document processing. Investors may see it as a step toward expanding AI capabilities efficiently. Article: Meta releases Muse Ember
• Neutral Sentiment: Meta is expanding AI age-estimation technology globally on Instagram to identify teen users and apply Teen Account protections. The rollout could help address safety concerns, but comes amid multiple lawsuits alleging harm to teens. Article: Meta expands Instagram's AI age-guessing tech globally
• Negative Sentiment: Investor concerns remain about the scale of Meta’s AI investment: a recent analysis noted that free cash flow turned negative last quarter. Heavy spending could weigh on returns if AI monetization does not keep pace. Article: Meta Platforms Stock: Is it a Steal of a Deal at $650?

Meta Platforms 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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