Provenance Wealth Advisors LLC Purchases 19,003 Shares of Meta Platforms, Inc. $META

Key Points

• Provenance Wealth Advisors increased its Meta stake by 1,887.1% in the third quarter, buying 19,003 shares to hold 20,010 shares valued at about $14.5 million.
• Meta reported quarterly earnings of $7.40 per share and $64.6 billion in revenue, beating analyst estimates; revenue rose 26.1% year over year.
• Analysts maintain a broadly positive outlook: Meta has a “Moderate Buy” consensus rating and an average price target of $833.12. Insiders sold 149,398 shares worth about $102.1 million over the past three months.

Provenance Wealth Advisors LLC raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1,887.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,010 shares of the social networking company's stock after buying an additional 19,003 shares during the period. Meta Platforms makes up about 0.9% of Provenance Wealth Advisors LLC's holdings, making the stock its 21st biggest holding. Provenance Wealth Advisors LLC's holdings in Meta Platforms were worth $14,511,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of META. Bill Few Associates Inc. lifted its stake in shares of 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 worth $874,000 after acquiring an additional 15 shares in the last quarter. Value Partners Investments Inc. boosted its holdings in Meta Platforms by 1.8% in the third quarter. Value Partners Investments Inc. now owns 866 shares of the social networking company's stock valued at $630,000 after purchasing an additional 15 shares during the last quarter. Tenzing Financial LLC grew its stake in Meta Platforms by 1.3% during the 2nd quarter. Tenzing Financial LLC now owns 1,210 shares of the social networking company's stock valued at $726,000 after purchasing an additional 16 shares in the last quarter. Uptown Financial Advisors LLC grew its stake in Meta Platforms by 1.3% during the 2nd quarter. Uptown Financial Advisors LLC now owns 1,273 shares of the social networking company's stock valued at $717,000 after purchasing an additional 16 shares in the last quarter. Finally, Sheets Smith Wealth Management grew its stake in Meta Platforms by 2.8% during the 2nd quarter. Sheets Smith Wealth Management now owns 594 shares of the social networking company's stock valued at $334,000 after purchasing an additional 16 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 NASDAQ META opened at $610.15 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.30. The stock's 50 day moving average price is $674.97 and its two-hundred day moving average price is $632.16. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $779.82. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 20.80, a PEG ratio of 1.06 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping the consensus estimate of $6.54 by $0.86. The company had revenue of $64.60 billion during the quarter, compared to analyst estimates of $63.34 billion. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The business's revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the firm earned $7.25 EPS. On average, analysts anticipate that Meta Platforms, Inc. will post 29.01 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared 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 dividend payout ratio is currently 7.16%.

Insider Activity

In other Meta Platforms news, CAO Aaron Anderson sold 3,240 shares of Meta Platforms stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $618.06, for a total value of $2,002,514.40. Following the completion of the transaction, the chief accounting officer owned 6,271 shares of the company's stock, valued at $3,875,854.26. The trade was a 34.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan Li sold 9,196 shares of Meta Platforms stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total transaction of $5,063,409.56. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares of the company's stock, valued at approximately $7,260,343.46. This represents a 41.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 149,398 shares of company stock valued at $102,134,435 over the last three months. 13.42% of the stock is currently owned by company insiders.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta launched Spaces, a collaboration feature for its Muse AI agents, following the rollout of Muse Voice. The new offerings may help strengthen user engagement and expand Meta’s consumer AI ecosystem. Meta introduces Spaces
• Positive Sentiment: Recent earnings commentary points to AI supporting Meta’s advertising operations, reinforcing the potential for the company’s AI investments to generate revenue. Takeaways from recent earnings
• Neutral Sentiment: Meta paused planned updates to its terms and is keeping existing rules in place. The move avoids an immediate policy change, though the underlying issues remain unresolved. Meta pauses planned terms updates
• Neutral Sentiment: Plans for new nonvoting Class C shares have been described as effectively creating a 2-for-1 split. A split changes the number of shares, but does not by itself change the company’s underlying value; the structure preserves Mark Zuckerberg’s voting control. Is Meta Platforms next for a stock split?
• Negative Sentiment: Meta and other platforms sued to block California restrictions on social-media features for users under 16. The case adds regulatory uncertainty and potential legal costs. Platforms sue over California teen social-media law
• Negative Sentiment: Meta warned that political backlash and possible limits on data-center construction could complicate its AI expansion. Its $15 billion senior-notes offering also highlights the scale of financing required for investment. Data-center expansion concerns
• Negative Sentiment: Reported ETF net selling and insider share sales may add short-term pressure, although the disclosed insider transaction was made under a pre-arranged trading plan. ETFs are net sellers of Meta Platforms

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Meta Platforms from $1,000.00 to $995.00 and set an "overweight" rating on the stock in a report on Thursday, October 22nd. Rothschild & Co Redburn increased their target price on Meta Platforms from $900.00 to $1,000.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. DA Davidson lifted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Canaccord Genuity Group lifted their price target on shares of Meta Platforms from $930.00 to $950.00 and gave the stock a "buy" rating in a research note on Friday, September 25th. Finally, Susquehanna upped their price target on shares of Meta Platforms from $650.00 to $850.00 and gave the company a "positive" rating in a report on Thursday, October 22nd. Three investment 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 stock. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $833.12.

Meta Platforms Company 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.

Founded in 2004 as Facebook by Mark Zuckerberg and fellow students, the company changed its name to Meta Platforms in 2021 to reflect its broader focus on building social technologies and immersive digital experiences.

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