Meta Platforms, Inc. $META Stake Lifted by Providence First Trust Co

Key Points

• Providence First Trust increased its Meta stake by 188.1% in the third quarter, adding 2,065 shares to hold 3,163 shares valued at about $2.29 million. Institutional investors and hedge funds own 79.91% of Meta’s stock.
• Meta reported quarterly EPS of $7.40, beating the $6.54 consensus, while revenue of $64.60 billion also topped expectations and rose 26.1% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $833.12; the stock’s latest reported opening price was $628.77.

Providence First Trust Co lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 188.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,163 shares of the social networking company's stock after buying an additional 2,065 shares during the quarter. Meta Platforms makes up about 0.8% of Providence First Trust Co's investment portfolio, making the stock its 25th largest holding. Providence First Trust Co's holdings in Meta Platforms were worth $2,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Corient Private Wealth LP grew its position in shares of Meta Platforms by 723.1% in the 2nd quarter. Corient Private Wealth LP now owns 8,801,764 shares of the social networking company's stock worth $4,957,946,000 after acquiring an additional 7,732,446 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at approximately $2,948,486,000. State Street Corp raised its stake in Meta Platforms by 4.0% during the 2nd quarter. State Street Corp now owns 92,033,963 shares of the social networking company's stock valued at $51,841,811,000 after acquiring an additional 3,510,123 shares in the last quarter. Bank of America Corp DE lifted its holdings in Meta Platforms by 14.6% in the first quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company's stock worth $12,036,491,000 after purchasing an additional 2,673,494 shares during the period. Finally, Amundi boosted its holdings in shares of Meta Platforms by 18.1% in the first quarter. Amundi now owns 11,858,972 shares of the social networking company's stock valued at $6,784,873,000 after acquiring an additional 1,815,017 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META opened at $628.77 on Thursday. The company has a market capitalization of $1.61 trillion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.28. 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 one year low of $520.26 and a one year high of $779.82. The company's fifty day moving average price is $678.62 and its 200 day moving average price is $632.12.

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

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wolfe Research reiterated an "outperform" rating and issued a $700.00 price target on shares of Meta Platforms in a research report on Thursday, July 30th. Susquehanna upped their price target on Meta Platforms from $650.00 to $850.00 and gave the company a "positive" rating in a research report on Thursday, October 22nd. Robert W. Baird cut their target price on shares of Meta Platforms from $830.00 to $750.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. President Capital upgraded Meta Platforms from a "neutral" rating to a "buy" rating and lifted their price target for the company from $660.00 to $897.00 in a report on Thursday, September 24th. Finally, Truist Financial upped their price objective on shares of Meta Platforms from $763.00 to $1,000.00 and gave the stock a "buy" rating in a report on Tuesday, October 13th. Three research 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 company. According to MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $833.12.

Latest Meta Platforms News

Here's some of the latest news about META:

• Positive Sentiment: Meta launched its Muse AI agent on Apple Watch and Wear OS, adding voice and text access that could broaden use of its assistant. Article: Meta's AI agent Muse lands on Apple Watch
• Neutral Sentiment: Infrastructure chief Santosh Janardhan is set to leave in early 2027, with former AWS executive David Brown slated to succeed him and lead infrastructure work tied to Meta’s AI computing initiative. The planned succession may support continuity, though the leadership change comes during a major infrastructure buildout. Article: Meta head of infrastructure will leave and be succeeded by former AWS cloud exec
• Negative Sentiment: Meta’s Facebook was fined by Brazil’s electoral court over alleged failure to provide equal content during a presidential campaign, adding regulatory and reputational risk. Article: Meta Fined by Brazil Electoral Court

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 946 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $614.15, for a total value of $580,985.90. Following the sale, the chief operating officer owned 4,094 shares of the company's stock, valued at $2,514,330.10. This trade represents a 18.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 owned by corporate insiders.

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.

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