Midwest Trust Co Acquires 31,253 Shares of Meta Platforms, Inc. $META

Midwest Trust Co lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 22.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,676 shares of the social networking company's stock after buying an additional 31,253 shares during the quarter. Meta Platforms comprises 1.1% of Midwest Trust Co's investment portfolio, making the stock its 19th biggest position. Midwest Trust Co's holdings in Meta Platforms were worth $96,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of META. Ashton Thomas Securities LLC raised its position in Meta Platforms by 17.4% in the 1st quarter. Ashton Thomas Securities LLC now owns 18,000 shares of the social networking company's stock worth $10,299,000 after purchasing an additional 2,670 shares during the period. Keybank National Association OH lifted its stake in shares of Meta Platforms by 15.7% in the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company's stock valued at $88,319,000 after acquiring an additional 18,169 shares during the last quarter. WMS Group LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $876,000. Czech National Bank boosted its holdings in Meta Platforms by 4.9% during the 2nd quarter. Czech National Bank now owns 625,079 shares of the social networking company's stock valued at $352,101,000 after acquiring an additional 29,411 shares during the period. Finally, Signature Estate & Investment Advisors LLC grew its position in Meta Platforms by 2.5% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 118,460 shares of the social networking company's stock worth $78,195,000 after acquiring an additional 2,871 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the topic of several analyst reports. Cantor Fitzgerald decreased their target price on shares of Meta Platforms from $770.00 to $680.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Wolfe Research restated an "outperform" rating and issued a $700.00 target price on shares of Meta Platforms in a research note on Thursday, July 30th. Arete Research set a $735.00 price objective on Meta Platforms and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Phillip Securities upgraded shares of Meta Platforms to a "strong-buy" rating in a report on Monday, August 3rd. Finally, Wedbush reaffirmed a "neutral" rating and issued a $595.00 target price on shares of Meta Platforms in a research report on Tuesday, September 1st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $785.22.

Meta Platforms Stock Performance

Meta Platforms stock opened at $616.77 on Friday. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $790.80. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.57 trillion, a P/E ratio of 23.23, a PEG ratio of 1.07 and a beta of 1.25. The stock's 50 day moving average is $596.16 and its 200 day moving average is $609.26.

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

Insider Buying and Selling

In related news, COO Javier Olivan sold 3,348 shares of the company's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $600.97, for a total value of $2,012,047.56. Following the transaction, the chief operating officer owned 9,498 shares in the company, valued at $5,708,013.06. The trade was a 26.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total transaction of $4,379,184.00. Following the sale, the chief technology officer directly owned 828 shares in the company, valued at $462,024. This trade represents a 90.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,987 shares of company stock worth $19,202,995 in the last 90 days. 13.53% of the stock is owned by company insiders.

Meta Platforms News Roundup

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

About Meta Platforms

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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