Cove Private Wealth LLC Grows Position in Meta Platforms, Inc. $META

Cove Private Wealth LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 14.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,834 shares of the social networking company’s stock after buying an additional 624 shares during the quarter. Meta Platforms makes up 1.3% of Cove Private Wealth LLC’s investment portfolio, making the stock its 17th largest holding. Cove Private Wealth LLC’s holdings in Meta Platforms were worth $3,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of META. Inlight Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Meta Platforms in the 1st quarter valued at $33,000. Evergreen Private Wealth LLC raised its position 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 during the last quarter. Finally, JCIC Asset Management Inc. raised its position in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock valued at $46,000 after buying an additional 40 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on META. Roth Capital raised their target price on Meta Platforms from $620.00 to $740.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Citizens Jmp raised their target price on Meta Platforms from $750.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Oppenheimer raised their target price on Meta Platforms from $775.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Robert W. Baird raised their target price on Meta Platforms from $635.00 to $740.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $800.00 target price (up from $725.00) on shares of Meta Platforms in a research report on Monday, July 28th. Three investment 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. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $830.02.

Meta Platforms Stock Down 1.2%

Shares of NASDAQ META opened at $734.38 on Wednesday. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The business has a 50-day simple moving average of $752.94 and a two-hundred day simple moving average of $672.78. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.84 trillion, a P/E ratio of 26.59, a P/E/G ratio of 1.55 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The business had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. During the same quarter last year, the company earned $5.16 EPS. The firm’s revenue was up 21.6% compared to the same quarter last year. Meta Platforms has set its Q3 2025 guidance at EPS. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s dividend payout ratio (DPR) is 7.60%.

Insider Activity

In other news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $781.33, for a total transaction of $403,947.61. Following the completion of the sale, the chief operating officer owned 10,543 shares in the company, valued at approximately $8,237,562.19. This trade represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $757.47, for a total value of $352,223.55. Following the sale, the director owned 8,412 shares of the company’s stock, valued at approximately $6,371,837.64. This trade represents a 5.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,146 shares of company stock worth $164,183,241. 13.61% of the stock is currently owned by insiders.

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.