DAVENPORT & Co LLC Has $363.36 Million Position in Meta Platforms, Inc. $META

DAVENPORT & Co LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 492,975 shares of the social networking company’s stock after selling 4,775 shares during the quarter. Meta Platforms accounts for 2.0% of DAVENPORT & Co LLC’s portfolio, making the stock its 5th largest holding. DAVENPORT & Co LLC’s holdings in Meta Platforms were worth $363,360,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of META. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms in the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Meta Platforms in the 1st quarter worth approximately $33,000. Evergreen Private Wealth LLC lifted its position in Meta Platforms by 237.5% in the second 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. lifted its position in Meta Platforms by 102.6% in the first 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 owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 517 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $704.81, for a total value of $364,386.77. Following the completion of the sale, the chief operating officer owned 9,509 shares in the company, valued at $6,702,038.29. This represents a 5.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $716.98, for a total value of $372,112.62. Following the completion of the sale, the insider owned 29,313 shares of the company’s stock, valued at $21,016,834.74. This trade represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,681 shares of company stock valued at $163,863,761. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 1.5%

NASDAQ META opened at $715.70 on Tuesday. The stock has a 50-day simple moving average of $750.98 and a 200 day simple moving average of $680.75. The company has a market capitalization of $1.80 trillion, a PE ratio of 25.91, a P/E/G ratio of 1.47 and a beta of 1.20. The company has a current ratio of 1.97, a quick 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.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating analysts’ consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to analysts’ expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.Meta Platforms’s revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 EPS. Meta Platforms has set its Q3 2025 guidance at EPS. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms’s dividend payout ratio is presently 7.60%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised 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. Truist Financial set a $880.00 price objective on shares of Meta Platforms in a report on Thursday, September 18th. KeyCorp raised their target price on Meta Platforms from $800.00 to $905.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Loop Capital reissued a “buy” rating and set a $980.00 price objective (up from $888.00) on shares of Meta Platforms in a report on Tuesday, August 5th. Finally, Sanford C. Bernstein lifted their price objective on Meta Platforms from $775.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $830.68.

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.