Lorne Steinberg Wealth Management Inc. Has $10.06 Million Stake in Meta Platforms, Inc. $META

Lorne Steinberg Wealth Management Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 34.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 13,634 shares of the social networking company’s stock after selling 7,193 shares during the period. Meta Platforms accounts for approximately 2.6% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 11th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Meta Platforms were worth $10,063,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Meta Platforms during the 1st quarter valued at $33,000. Evergreen Private Wealth LLC lifted its position in shares of Meta Platforms by 237.5% during the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 38 shares during the period. Maseco LLP acquired a new position in shares of Meta Platforms during the 2nd quarter valued at $54,000. Finally, eCIO Inc. acquired a new position in shares of Meta Platforms during the 1st quarter valued at $58,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $749.57, for a total value of $387,527.69. Following the completion of the sale, the chief operating officer owned 7,958 shares in the company, valued at $5,965,078.06. This represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $736.37, for a total transaction of $382,176.03. Following the completion of the sale, the insider owned 28,275 shares of the company’s stock, valued at approximately $20,820,861.75. The trade was a 1.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 213,663 shares of company stock worth $164,595,807 in the last quarter. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $751.67 on Thursday. The firm has a market capitalization of $1.89 trillion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. The firm has a fifty day simple moving average of $741.86 and a two-hundred day simple moving average of $696.13. 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 posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. During the same period last year, the business posted $6.03 earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. Meta Platforms has set its Q4 2025 guidance at EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders 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 dividend payout ratio is presently 7.60%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on META. TD Cowen boosted their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Barclays boosted their target price on Meta Platforms from $640.00 to $810.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Stifel Nicolaus boosted their target price on Meta Platforms from $845.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Loop Capital reaffirmed a “buy” rating and issued a $980.00 target price (up from $888.00) on shares of Meta Platforms in a research report on Tuesday, August 5th. Finally, JMP Securities boosted their target price on Meta Platforms from $750.00 to $900.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $829.66.

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.