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

Convergence Financial LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 7.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,920 shares of the social networking company’s stock after buying an additional 486 shares during the period. Meta Platforms makes up 0.9% of Convergence Financial LLC’s portfolio, making the stock its 28th largest position. Convergence Financial LLC’s holdings in Meta Platforms were worth $5,108,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Piper Sandler cut their price target on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Mizuho decreased their price objective on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Stifel Nicolaus cut their target price on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $827.60.

Meta Platforms Stock Down 0.1%

META stock opened at $609.46 on Monday. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 1.35 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The business has a 50 day moving average price of $713.72 and a two-hundred day moving average price of $706.28. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating the consensus estimate of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter in the prior year, the firm posted $6.03 EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. Meta Platforms has set its Q4 2025 guidance at EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were given a $0.525 dividend. 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 (DPR) is 9.28%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $767.16, for a total value of $398,156.04. Following the sale, the insider directly owned 30,870 shares of the company’s stock, valued at approximately $23,682,229.20. This represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 13,359 shares of company stock worth $9,689,566. 13.61% of the stock is owned by insiders.

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.