Granite Bay Wealth Management LLC Reduces Position in Meta Platforms, Inc. $META

Key Points

• Granite Bay Wealth Management LLC reduced its position in Meta Platforms by 39.2%, resulting in ownership of 1,569 shares valued at approximately $1.16 million.
• Insider selling included COO Javier Olivan and CFO Susan J. Li, who sold shares at an average price above $755, reflecting a trend of insider profit-taking.
• Meta Platforms announced a quarterly dividend of $0.525 per share, with an annualized yield of 0.3%, set to be paid on September 29th.

Granite Bay Wealth Management LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 39.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,569 shares of the social networking company's stock after selling 1,012 shares during the quarter. Granite Bay Wealth Management LLC's holdings in Meta Platforms were worth $1,158,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in META. GAMMA Investing LLC grew its holdings in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after buying an additional 23,417,803 shares during the last quarter. Nuveen LLC purchased a new stake in Meta Platforms in the first quarter valued at $2,990,544,000. Assenagon Asset Management S.A. boosted its holdings in Meta Platforms by 712.2% in the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after purchasing an additional 2,225,186 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Meta Platforms in the fourth quarter valued at $1,162,918,000. Finally, Amundi boosted its holdings in Meta Platforms by 23.5% in the first quarter. Amundi now owns 7,733,061 shares of the social networking company's stock valued at $4,111,050,000 after purchasing an additional 1,470,070 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $755.65, for a total value of $390,671.05. Following the completion of the sale, the chief operating officer owned 11,577 shares of the company's stock, valued at $8,748,160.05. This represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 18,332 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $764.71, for a total transaction of $14,018,663.72. Following the completion of the sale, the chief financial officer directly owned 84,141 shares of the company's stock, valued at approximately $64,343,464.11. This trade represents a 17.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,674 shares of company stock worth $197,549,274 in the last quarter. Insiders own 13.61% of the company's stock.

Meta Platforms Stock Up 1.2%

META stock opened at $764.70 on Tuesday. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.56 and a beta of 1.24. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The firm has a 50-day moving average of $742.75 and a two-hundred day moving average of $662.53.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. Meta Platforms's quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.16 EPS. Meta Platforms has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 22nd will be issued a $0.525 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's dividend payout ratio is presently 7.60%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Scotiabank upped their price target on shares of Meta Platforms from $675.00 to $685.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. KeyCorp upped their price objective on shares of Meta Platforms from $800.00 to $905.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada upped their price objective on shares of Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Bank of America upped their price objective on shares of Meta Platforms from $775.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, JMP Securities upped their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $822.41.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.