Pinnacle Wealth Management Advisory Group LLC Grows Position in Meta Platforms, Inc. $META

Pinnacle Wealth Management Advisory Group LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 19.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,566 shares of the social networking company’s stock after purchasing an additional 2,906 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Meta Platforms were worth $10,050,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. RHL Group LLC bought a new position in Meta Platforms in the 4th quarter worth $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $29,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at about $42,000. Key Capital Management INC bought a new position in Meta Platforms in the fourth quarter worth about $48,000. Finally, Entrust Financial LLC bought a new position in Meta Platforms in the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, insider Curtis J. Mahoney sold 2,079 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the sale, the insider owned 1,118 shares of the company’s stock, valued at $681,890.56. This trade represents a 65.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,847 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the transaction, the chief technology officer owned 414 shares of the company’s stock, valued at approximately $251,641.62. The trade was a 94.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 39,013 shares of company stock valued at $24,115,999 over the last ninety days. 13.53% of the stock is currently owned by corporate insiders.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta continues to draw bullish commentary from analysts and investors who view it as a strong long-term growth story, with some recent coverage calling it a market favorite and one of billionaire Dan Loeb’s preferred growth holdings.
• Positive Sentiment: Reports that Meta is rolling out a cheaper new line of smart glasses, starting at $299, support the company’s push beyond social media into wearable AI hardware and could broaden adoption.
• Positive Sentiment: One recent article argued Meta has clear AI-driven upside over the next several years, reinforcing the view that its scale, ad business, and AI investments could support higher earnings over time.
• Neutral Sentiment: Mark Zuckerberg is reportedly building a standalone prediction-market app, which could create a new product category, but it remains early and its financial impact is unclear.
• Neutral Sentiment: Broader “Magnificent 7” weakness has weighed on mega-cap tech stocks overall, adding a market-level headwind even for companies with strong fundamentals.
• Negative Sentiment: The lawsuit ruling in the Facebook and Instagram addiction case keeps legal exposure alive and could increase uncertainty around Meta’s platform practices and future costs. Mark Zuckerberg’s Meta loses bid to toss lawsuit alleging Facebook and Instagram addict children

Meta Platforms Stock Up 0.3%

Shares of NASDAQ:META opened at $564.11 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $607.50 and a two-hundred day simple moving average of $629.23. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.00 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company’s revenue was up 33.1% on a year-over-year basis. During the same period last year, the company earned $6.43 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.4%. Meta Platforms’s payout ratio is 7.63%.

Analysts Set New Price Targets

Several analysts have weighed in on META shares. BNP Paribas Exane began coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set an “outperform” rating on the stock. Stifel Nicolaus decreased their target price on Meta Platforms from $805.00 to $780.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Susquehanna upgraded Meta Platforms from a “positive” rating to a “positive” rating in a research note on Tuesday, June 2nd. Morgan Stanley dropped their price target on Meta Platforms from $825.00 to $775.00 and set an “overweight” rating on the stock in a research report on Monday, March 30th. Finally, Raymond James Financial raised Meta Platforms from an “underperform” rating to an “outperform” rating in a research note on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $840.60.

About Meta Platforms

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.