Elite Wealth Management Inc. Cuts Stock Holdings in Meta Platforms, Inc. $META

Elite Wealth Management Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 38.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,915 shares of the social networking company’s stock after selling 9,811 shares during the period. Meta Platforms accounts for about 3.9% of Elite Wealth Management Inc.’s holdings, making the stock its 6th biggest position. Elite Wealth Management Inc.’s holdings in Meta Platforms were worth $11,747,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new position in Meta Platforms in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms in the first quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms in the first quarter worth approximately $33,000. Evergreen Private Wealth LLC raised its stake in shares of 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 last quarter. Finally, JCIC Asset Management Inc. raised its stake in shares of 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 last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on META shares. Stifel Nicolaus increased their price objective on Meta Platforms from $845.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. HSBC raised Meta Platforms from a “hold” rating to a “buy” rating and increased their price objective for the stock from $610.00 to $900.00 in a research note on Thursday, July 31st. Raymond James Financial increased their price objective on Meta Platforms from $750.00 to $900.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 31st. JMP Securities increased their price objective on Meta Platforms from $750.00 to $900.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Meta Platforms in a research note on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $830.68.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $713.34, for a total value of $368,796.78. Following the sale, the chief operating officer directly owned 8,992 shares in the company, valued at $6,414,353.28. The trade was a 5.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $707.85, for a total value of $367,374.15. Following the completion of the transaction, the insider owned 28,794 shares of the company’s stock, valued at approximately $20,381,832.90. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 214,182 shares of company stock worth $164,933,323 over the last ninety days. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of META opened at $716.91 on Friday. The firm has a market cap of $1.80 trillion, a PE ratio of 25.96, a PEG ratio of 1.50 and a beta of 1.20. The stock’s fifty day moving average price is $746.75 and its two-hundred day moving average price is $683.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $1.39. The firm 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 business’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.16 earnings per share. Meta Platforms has set its Q3 2025 guidance at EPS. On average, equities 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. The ex-dividend date was Monday, September 22nd. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s payout ratio is presently 7.60%.

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.