Drive Wealth Management LLC Boosts Position in Meta Platforms, Inc. $META

Drive Wealth Management LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,379 shares of the social networking company’s stock after buying an additional 586 shares during the quarter. Meta Platforms comprises 1.5% of Drive Wealth Management LLC’s portfolio, making the stock its 14th largest holding. Drive Wealth Management LLC’s holdings in Meta Platforms were worth $6,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in META. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms during the first quarter worth about $28,000. Evergreen Private Wealth LLC grew its holdings in shares of Meta Platforms by 237.5% during 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 in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Meta Platforms during the first quarter worth about $33,000. Maseco LLP purchased a new position in shares of Meta Platforms during the second quarter worth about $54,000. Finally, Piscataqua Savings Bank grew its holdings in shares of Meta Platforms by 433.3% during the second quarter. Piscataqua Savings Bank now owns 80 shares of the social networking company’s stock worth $59,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group boosted their price objective on Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald cut their price objective on Meta Platforms from $920.00 to $830.00 and set an “overweight” rating for the company in a report on Thursday. KeyCorp cut their price objective on Meta Platforms from $905.00 to $875.00 and set an “overweight” rating for the company in a report on Thursday. DA Davidson set a $825.00 price objective on Meta Platforms in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $827.60.

Insider Activity

In other news, COO Javier Olivan sold 517 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $749.57, for a total transaction of $387,527.69. Following the completion of the sale, the chief operating officer owned 7,958 shares of the company’s stock, valued at approximately $5,965,078.06. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $753.00, for a total value of $390,807.00. Following the sale, the insider directly owned 27,756 shares of the company’s stock, valued at approximately $20,900,268. This trade represents a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 198,335 shares of company stock valued at $153,047,009. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Down 11.3%

Shares of META opened at $666.47 on Friday. The firm has a market cap of $1.67 trillion, a P/E ratio of 29.44, a P/E/G ratio of 1.60 and a beta of 1.20. The stock has a 50 day simple moving average of $740.41 and a two-hundred day simple moving average of $695.92. 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 released its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The firm had revenue of $51.24 billion during the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a return on equity of 39.69% and a net margin of 30.89%.The business’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.03 earnings per share. Meta Platforms has set its Q4 2025 guidance at EPS. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms’s dividend payout ratio is 9.28%.

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.