Meta Platforms, Inc. $META Stock Position Increased by Covenant Asset Management LLC

Key Points

• Covenant Asset Management LLC increased its stake in Meta Platforms by 123.5%, holding a total of 19,425 shares worth approximately $14.34 million as of the latest SEC filing.
• In recent insider trading, Meta's CTO and CFO sold shares, with CTO Andrew Bosworth reducing his holdings by 86.67%, and CFO Susan J. Li decreasing hers by 17.89%.
• Meta Platforms reported $7.14 EPS for the last quarter, significantly surpassing analyst expectations, with revenue growth of 21.6% year over year.

Covenant Asset Management LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 123.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,425 shares of the social networking company's stock after buying an additional 10,732 shares during the quarter. Meta Platforms makes up about 2.1% of Covenant Asset Management LLC's portfolio, making the stock its 7th biggest position. Covenant Asset Management LLC's holdings in Meta Platforms were worth $14,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inlight Wealth Management LLC purchased a new position in Meta Platforms during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Meta Platforms during the 1st quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Meta Platforms during the 1st quarter worth $33,000. Evergreen Private Wealth LLC increased its holdings in Meta Platforms by 237.5% during the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company's stock worth $40,000 after purchasing an additional 38 shares during the period. Finally, JCIC Asset Management Inc. increased its holdings in Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after purchasing an additional 40 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 11,694 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $775.00, for a total transaction of $9,062,850.00. Following the completion of the sale, the chief technology officer directly owned 1,799 shares in the company, valued at approximately $1,394,225. The trade was a 86.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 18,332 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $764.71, for a total value of $14,018,663.72. Following the sale, the chief financial officer 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 214,182 shares of company stock worth $164,955,168 in the last 90 days. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $710.56 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The business has a 50-day moving average price of $753.21 and a 200 day moving average price of $675.45. The firm has a market cap of $1.79 trillion, a PE ratio of 25.73, a P/E/G ratio of 1.48 and a beta of 1.20.

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

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms's payout ratio is currently 7.60%.

Analyst Ratings Changes

Several research analysts have commented on META shares. Bank of America raised their price objective on Meta Platforms from $775.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Citizens Jmp raised their price objective on Meta Platforms from $750.00 to $900.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. KeyCorp lifted their price target on Meta Platforms from $800.00 to $905.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Wedbush lifted their price target on Meta Platforms from $750.00 to $920.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, HSBC upgraded Meta Platforms from a "hold" rating to a "buy" rating and lifted their price target for the company from $610.00 to $900.00 in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $830.02.

Meta Platforms Company 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.

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