Convergence Financial LLC Purchases 486 Shares of Meta Platforms, Inc. $META

Convergence Financial LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,920 shares of the social networking company’s stock after buying an additional 486 shares during the quarter. Meta Platforms accounts for approximately 0.9% of Convergence Financial LLC’s holdings, making the stock its 28th biggest holding. Convergence Financial LLC’s holdings in Meta Platforms were worth $5,108,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Meta Platforms in the 1st quarter worth approximately $33,000. Evergreen Private Wealth LLC boosted its stake in Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after buying an additional 38 shares in the last quarter. Briaud Financial Planning Inc bought a new stake in Meta Platforms in the second quarter valued at $42,000. WFA Asset Management Corp raised its stake in Meta Platforms by 42.6% during the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after acquiring an additional 20 shares in the last quarter. Finally, Maseco LLP bought a new position in shares of Meta Platforms during the second quarter valued at $54,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $716.97, for a total value of $333,391.05. Following the transaction, the director owned 7,947 shares of the company’s stock, valued at $5,697,760.59. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 516 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $631.00, for a total value of $325,596.00. Following the completion of the transaction, the insider owned 26,721 shares in the company, valued at $16,860,951. This represents a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,359 shares of company stock valued at $9,689,566 over the last ninety days. Insiders own 13.61% of the company’s stock.

Meta Platforms Stock Down 0.1%

NASDAQ META opened at $609.46 on Monday. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a fifty day moving average of $713.72 and a 200-day moving average of $706.28.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The firm’s revenue for the quarter 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, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were given a dividend of $0.525 per share. 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 currently 9.28%.

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Cantor Fitzgerald dropped their target price on shares of Meta Platforms from $920.00 to $830.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Wedbush reiterated an “outperform” rating and issued a $920.00 target price on shares of Meta Platforms in a research note on Thursday, October 30th. Wall Street Zen downgraded Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. TD Cowen dropped their price target on Meta Platforms from $875.00 to $810.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, DA Davidson set a $825.00 price objective on Meta Platforms in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $827.60.

Meta Platforms 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.