Procyon Advisors LLC Sells 38,650 Shares of Meta Platforms, Inc. $META

Key Points

• Procyon Advisors LLC has reduced its stake in Meta Platforms, Inc. by 68.6%, selling 38,650 shares and now holding a total of 17,688 shares, which represents about 1.2% of its overall portfolio.
• Analyst ratings are generally positive, with several firms increasing price targets, with a consensus price target of $826.05 and a majority rating the stock as a Moderate Buy.
• The company reported strong earnings with an EPS of $7.14 for the last quarter, exceeding expectations and showing a 21.6% year-over-year revenue growth.

Procyon Advisors LLC cut its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 68.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,688 shares of the social networking company's stock after selling 38,650 shares during the quarter. Meta Platforms makes up 1.2% of Procyon Advisors LLC's investment portfolio, making the stock its 17th largest position. Procyon Advisors LLC's holdings in Meta Platforms were worth $13,055,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Graves Light Lenhart Wealth Inc. acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $416,000. Affinity Capital Advisors LLC boosted its position in Meta Platforms by 21.9% during the 2nd quarter. Affinity Capital Advisors LLC now owns 7,228 shares of the social networking company's stock worth $5,335,000 after purchasing an additional 1,300 shares during the period. GSG Advisors LLC increased its holdings in Meta Platforms by 5.9% in the 2nd quarter. GSG Advisors LLC now owns 2,035 shares of the social networking company's stock valued at $1,502,000 after purchasing an additional 113 shares in the last quarter. Mirador Capital Partners LP raised its position in Meta Platforms by 2.5% in the second quarter. Mirador Capital Partners LP now owns 24,430 shares of the social networking company's stock valued at $18,032,000 after purchasing an additional 590 shares during the period. Finally, Baron Wealth Management LLC lifted its stake in shares of Meta Platforms by 64.8% during the second quarter. Baron Wealth Management LLC now owns 1,572 shares of the social networking company's stock worth $1,160,000 after purchasing an additional 618 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.2%

META stock traded down $1.87 during trading on Friday, hitting $778.38. The company had a trading volume of 22,494,703 shares, compared to its average volume of 9,174,566. 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 12 month low of $479.80 and a 12 month high of $796.25. The stock has a market cap of $1.96 trillion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.63 and a beta of 1.24. The firm has a 50-day moving average price of $747.06 and a 200-day moving average price of $665.93.

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

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.525 per share. The ex-dividend date of this dividend 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 7.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Roth Capital raised their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Morgan Stanley increased their price target on Meta Platforms from $750.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Truist Financial set a $880.00 price objective on Meta Platforms in a report on Thursday. Finally, KeyCorp increased their target price on Meta Platforms from $800.00 to $905.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $826.05.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 18,332 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 84,141 shares of the company's stock, valued at $64,343,464.11. This represents a 17.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The disclosure for this sale can be found here. Insiders sold 257,922 shares of company stock worth $196,412,792 in the last quarter. Corporate insiders own 13.61% of the company's stock.

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.