VCI Wealth Management LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 33.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,562 shares of the social networking company’s stock after purchasing an additional 2,875 shares during the period. Meta Platforms comprises 1.6% of VCI Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position. VCI Wealth Management LLC’s holdings in Meta Platforms were worth $6,513,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of META. RHL Group LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $28,000. Advantage Trust Co acquired a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $29,000. Niles Investment Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at approximately $29,000. Finally, Axiom Investment Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter valued at approximately $36,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Price Performance
Meta Platforms stock opened at $616.77 on Friday. The company’s fifty day moving average price is $596.16 and its 200 day moving average price is $609.26. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $790.80. The stock has a market capitalization of $1.57 trillion, a P/E ratio of 23.23, a P/E/G ratio of 1.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23.
Insider Buying and Selling at Meta Platforms
In related news, Director Robert M. Kimmitt sold 500 shares of Meta Platforms stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $561.56, for a total value of $280,780.00. Following the sale, the director directly owned 2,943 shares in the company, valued at approximately $1,652,671.08. The trade was a 14.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total value of $4,379,184.00. Following the sale, the chief technology officer owned 828 shares of the company’s stock, valued at approximately $462,024. This trade represents a 90.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 32,987 shares of company stock valued at $19,202,995. Corporate insiders own 13.53% of the company’s stock.
Wall Street Analysts Forecast Growth
META has been the topic of a number of recent analyst reports. UBS Group lowered their price target on shares of Meta Platforms from $766.00 to $715.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Mizuho set a $750.00 price objective on shares of Meta Platforms in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Meta Platforms from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. DA Davidson lowered their target price on shares of Meta Platforms from $850.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $800.00 target price on shares of Meta Platforms in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $785.22.
View Our Latest Stock Report on Meta Platforms
Key Headlines Impacting Meta Platforms
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta opened paid developer access to Muse Spark 1.3, with company executives and analysts claiming the model is approaching or matching offerings from Anthropic and OpenAI. Improved performance and token efficiency could support adoption in coding agents, model APIs, subscriptions and future generative-search advertising. Meta Platforms: Muse Spark 1.3 Was The Warning Shot
- Positive Sentiment: Recent coverage identifies Muse Spark 1.3 as a new catalyst that could improve confidence in Meta’s AI roadmap and help the company recover toward its prior highs, provided the technology translates into revenue and returns on investment. Meta Rises 4% as Muse Spark 1.3 Claims Parity with Anthropic and OpenAI
- Positive Sentiment: Some investment commentary views Meta as a major beneficiary of the ongoing AI infrastructure and computing cycle, alongside other hyperscalers, potentially creating a long-term growth opportunity. Hyperscalers Are the Backbone of AI
Meta Platforms Profile
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
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