Summit Wealth Group LLC Co. Sells 985 Shares of Meta Platforms, Inc. $META

Key Points

• Summit Wealth Group LLC cut its Meta Platforms stake by 28.1% in the fourth quarter, selling 985 shares and ending with 2,519 shares worth about $1.66 million.
• Meta continues to receive largely bullish analyst coverage, with a consensus rating of “Moderate Buy” and an average price target of $840.19, even as several firms trimmed or raised their targets.
• Recent headlines highlight both growth and risk: Meta launched a new Forum app and is shifting resources toward AI, while also facing ongoing legal and regulatory pressure, including a Texas lawsuit over privacy claims.

Summit Wealth Group LLC Co. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 28.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,519 shares of the social networking company's stock after selling 985 shares during the period. Summit Wealth Group LLC Co.'s holdings in Meta Platforms were worth $1,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Westchester Capital Management Inc. purchased a new position in shares of Meta Platforms during the 3rd quarter worth approximately $26,000. Strategic Wealth Advisors LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $29,000. Key Capital Management INC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $48,000. Fairway Wealth LLC grew its holdings in shares of Meta Platforms by 36.8% during the 4th quarter. Fairway Wealth LLC now owns 78 shares of the social networking company's stock worth $51,000 after acquiring an additional 21 shares during the period. Finally, Merrithew & Thorsten Inc purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $52,000. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group reduced their target price on Meta Platforms from $908.00 to $865.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Mizuho reduced their target price on Meta Platforms from $850.00 to $835.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. Evercore upped their target price on Meta Platforms from $875.00 to $900.00 and gave the stock an "outperform" rating in a report on Thursday, January 29th. Wedbush upped their target price on Meta Platforms from $880.00 to $900.00 and gave the stock an "outperform" rating in a report on Thursday, January 29th. Finally, Canaccord Genuity Group upped their target price on Meta Platforms from $900.00 to $930.00 and gave the stock a "buy" rating in a report on Thursday, January 29th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $840.19.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the sale, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the sale, the chief technology officer owned 414 shares in the company, valued at approximately $251,641.62. This represents a 94.99% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 152,728 shares of company stock worth $96,925,217. Insiders own 13.53% of the company's stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $610.26 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.54 trillion, a P/E ratio of 22.18, a PEG ratio of 1.07 and a beta of 1.25. The stock's 50 day moving average is $617.68 and its 200 day moving average is $637.00. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm's quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.43 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 29.49 earnings per share for the current fiscal year.

Key Meta Platforms News

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

• Positive Sentiment: Meta launched a standalone “Forum” app for Facebook Groups, signaling a new product push that could deepen user engagement and add pressure to competitors like Reddit. Meta quietly launches a new Reddit-like app called Forum
• Positive Sentiment: Meta is cutting jobs and shifting resources toward AI, which investors may view as an efficiency move that supports long-term profit margins and keeps the company focused on its biggest growth area. Meta Cuts 8,000 Jobs, Boosts AI Team: What This Means for Employees
• Neutral Sentiment: Meta also settled a school-district lawsuit over alleged social media addiction harms, removing one legal overhang, though the broader regulatory and litigation risk around its platforms remains. Texas sues Meta, WhatsApp over encryption privacy claims
• Neutral Sentiment: Other headlines around Meta’s dual-class control structure, insider share sales, and broader AI spending debate are adding to the narrative, but they are less likely to drive the stock on their own than the new app launch and workforce reshaping.
• Negative Sentiment: The Texas attorney general’s lawsuit against Meta and WhatsApp over encryption and privacy claims adds another legal risk for investors to monitor. Google, Meta, TikTok face EU consumer complaints about handling of financial scams
• Negative Sentiment: Competition concerns are also in focus after Meta’s Forum app appeared to pressure Reddit shares, reinforcing worries that Meta’s scale lets it copy or crowd out rival social platforms.

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.

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