Meta Platforms, Inc. $META Stock: Elite Wealth Management Inc. Increases Position

Key Points

• Elite Wealth Management increased its Meta stake by 60.7% in the third quarter, adding 13,377 shares to reach 35,433 shares worth about $25.7 million. Meta is now 4.9% of the firm’s portfolio and its fifth-largest holding.
• Meta reported quarterly earnings of $7.40 per share, beating the $6.54 consensus estimate, while revenue rose 26.1% year over year to $64.6 billion.
• Analysts have a consensus Moderate Buy rating on Meta, with an average price target of $833.12.

Elite Wealth Management Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 60.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,433 shares of the social networking company's stock after purchasing an additional 13,377 shares during the period. Meta Platforms makes up 4.9% of Elite Wealth Management Inc.'s investment portfolio, making the stock its 5th largest holding. Elite Wealth Management Inc.'s holdings in Meta Platforms were worth $25,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bill Few Associates Inc. increased its holdings in Meta Platforms by 1.3% in the third quarter. Bill Few Associates Inc. now owns 1,206 shares of the social networking company's stock valued at $874,000 after buying an additional 15 shares in the last quarter. Value Partners Investments Inc. boosted its stake in shares of Meta Platforms by 1.8% during the 3rd quarter. Value Partners Investments Inc. now owns 866 shares of the social networking company's stock worth $630,000 after acquiring an additional 15 shares in the last quarter. Tenzing Financial LLC boosted its stake in shares of Meta Platforms by 1.3% during the 2nd quarter. Tenzing Financial LLC now owns 1,210 shares of the social networking company's stock worth $726,000 after acquiring an additional 16 shares in the last quarter. Uptown Financial Advisors LLC grew its holdings in shares of Meta Platforms by 1.3% in the 2nd quarter. Uptown Financial Advisors LLC now owns 1,273 shares of the social networking company's stock worth $717,000 after acquiring an additional 16 shares during the period. Finally, Sheets Smith Wealth Management grew its holdings in shares of Meta Platforms by 2.8% in the 2nd quarter. Sheets Smith Wealth Management now owns 594 shares of the social networking company's stock worth $334,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Top Meta Platforms Stories

These are some of the META stories that stood out recently:

• Positive Sentiment: ETFs bought about $99.7 million of Meta shares on Nov. 10, a sign of institutional fund demand. ETFs Bought $99.7 Million of Meta Platforms
• Neutral Sentiment: Infrastructure chief Santosh Janardhan plans to leave in early 2027, with former AWS executive David Brown set to take over. The handoff is planned, though the leadership change comes as Meta expands its AI computing infrastructure. Meta Head of Infrastructure Will Leave
• Neutral Sentiment: COO Javier Olivan reported stock sales under a pre-arranged Rule 10b5-1 plan. Such planned sales are not necessarily a signal about the company’s outlook, but may still draw investor attention. SEC ownership filing

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Raymond James Financial raised their price objective on Meta Platforms from $650.00 to $860.00 and gave the company a "strong-buy" rating in a research note on Thursday, September 24th. HSBC decreased their target price on Meta Platforms from $905.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Monness Crespi & Hardt reiterated a "buy" rating and set a $875.00 target price on shares of Meta Platforms in a research report on Thursday, October 22nd. Morgan Stanley upped their target price on Meta Platforms from $775.00 to $820.00 and gave the company an "overweight" rating in a report on Monday, October 19th. Finally, Wolfe Research restated an "outperform" rating and issued a $700.00 price target on shares of Meta Platforms in a research report on Thursday, July 30th. Three 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $833.12.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $623.61 on Friday. The business's fifty day moving average price is $679.23 and its two-hundred day moving average price is $631.88. The stock has a market cap of $1.59 trillion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.09 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, Inc. has a one year low of $520.26 and a one year high of $779.82.

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 for the quarter, topping analysts' consensus estimates of $6.54 by $0.86. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The company had revenue of $64.60 billion during the quarter, compared to analysts' expectations of $63.34 billion. During the same period in the previous year, the firm posted $7.25 earnings per share. The business's revenue for the quarter was up 26.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 29.01 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 946 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $631.03, for a total value of $596,954.38. Following the transaction, the chief operating officer directly owned 3,148 shares of the company's stock, valued at approximately $1,986,482.44. This trade represents a 23.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 150,973 shares of company stock worth $103,128,307. Corporate insiders own 13.42% of the company's stock.

About Meta Platforms

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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