Eaton Financial Holdings Company LLC Raises Position in Meta Platforms, Inc. $META

Eaton Financial Holdings Company LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,612 shares of the social networking company's stock after buying an additional 1,372 shares during the quarter. Meta Platforms comprises 2.0% of Eaton Financial Holdings Company LLC's portfolio, making the stock its 15th largest position. Eaton Financial Holdings Company LLC's holdings in Meta Platforms were worth $7,104,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. RHL Group LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $29,000. Advantage Trust Co acquired a new position in shares of Meta Platforms during the second quarter worth $28,000. Axiom Investment Management LLC purchased a new position in shares of Meta Platforms in the first quarter valued at $36,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms in the fourth quarter valued at $42,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, Director Robert M. Kimmitt sold 500 shares of Meta Platforms stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $561.56, for a total value of $280,780.00. Following the completion of the transaction, the director directly owned 2,943 shares in the company, valued at $1,652,671.08. The trade was a 14.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 1,559 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total value of $869,922.00. Following the transaction, the insider owned 1,957 shares of the company's stock, valued at approximately $1,092,006. The trade was a 44.34% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 32,987 shares of company stock worth $19,202,995. Corporate insiders own 13.53% of the company's stock.

Meta Platforms Stock Up 1.0%

Shares of NASDAQ:META opened at $616.77 on Friday. The firm has a market cap of $1.57 trillion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25. The company has a fifty day simple moving average of $596.16 and a 200 day simple moving average of $609.26. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $790.80.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 EPS for the quarter, missing analysts' consensus estimates of $7.19 by ($1.01). The company had revenue of $60.80 billion for the quarter, compared to the consensus estimate of $60.22 billion. Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The company's revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the company earned $7.14 earnings per share. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 28.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

META has been the subject of a number of recent analyst reports. Susquehanna lowered their price target on shares of Meta Platforms from $900.00 to $650.00 and set a "positive" rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada reissued an "outperform" rating and issued a $810.00 price objective on shares of Meta Platforms in a research report on Monday, June 1st. Citizens Jmp lowered their target price on Meta Platforms from $800.00 to $770.00 and set a "market outperform" rating for the company in a research note on Thursday, July 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Meta Platforms in a research report on Thursday, August 27th. Finally, Rothschild & Co Redburn lifted their target price on Meta Platforms from $900.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $785.22.

More Meta Platforms News

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

• Positive Sentiment: Meta opened paid developer access to Muse Spark 1.3, with company executives and analysts claiming the model is approaching or matching offerings from Anthropic and OpenAI. Improved performance and token efficiency could support adoption in coding agents, model APIs, subscriptions and future generative-search advertising. Meta Platforms: Muse Spark 1.3 Was The Warning Shot
• Positive Sentiment: Recent coverage identifies Muse Spark 1.3 as a new catalyst that could improve confidence in Meta’s AI roadmap and help the company recover toward its prior highs, provided the technology translates into revenue and returns on investment. Meta Rises 4% as Muse Spark 1.3 Claims Parity with Anthropic and OpenAI
• Positive Sentiment: Some investment commentary views Meta as a major beneficiary of the ongoing AI infrastructure and computing cycle, alongside other hyperscalers, potentially creating a long-term growth opportunity. Hyperscalers Are the Backbone of AI

Meta Platforms Company Profile

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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