Mystic Asset Management Inc. Sells 1,469 Shares of Meta Platforms, Inc. $META

Mystic Asset Management Inc. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.2% during the third quarter, HoldingsChannel.com reports. The firm owned 14,545 shares of the social networking company’s stock after selling 1,469 shares during the period. Meta Platforms accounts for about 2.3% of Mystic Asset Management Inc.’s portfolio, making the stock its 8th largest position. Mystic Asset Management Inc.’s holdings in Meta Platforms were worth $10,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Advantage Trust Co purchased a new stake in Meta Platforms during the second quarter worth about $28,000. Philadelphia Investment Partners LLC purchased a new position in Meta Platforms in the second quarter valued at about $32,000. Horizons Wealth Management purchased a new position in Meta Platforms in the third quarter valued at about $33,000. Axiom Investment Management LLC purchased a new position in Meta Platforms in the first quarter valued at about $36,000. Finally, Schuylkill Financial LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at approximately $36,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. Erste Group Bank raised Meta Platforms from a “hold” rating to a “buy” rating in a research note on Tuesday, July 7th. DA Davidson decreased their target price on Meta Platforms from $850.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Moffett Nathanson decreased their target price on Meta Platforms from $800.00 to $740.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Robert W. Baird lowered their target price on Meta Platforms from $830.00 to $750.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Meta Platforms in a research report on Thursday, August 27th. Three investment analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $808.88.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 27,474 shares of the company’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $777.44, for a total value of $21,359,386.56. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan Li sold 9,196 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $550.61, for a total value of $5,063,409.56. Following the sale, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $7,260,343.46. The trade was a 41.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 149,797 shares of company stock valued at $102,180,385 in the last ninety days. 13.53% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of META stock traded down $27.39 during trading hours on Friday, hitting $709.33. The company’s stock had a trading volume of 20,582,358 shares, compared to its average volume of 22,124,532. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $655.78 and a 200-day moving average of $625.86. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $779.82. The stock has a market cap of $1.81 trillion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 1.27 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.19 by ($1.01). Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%. The company had revenue of $60.80 billion for the quarter, compared to analyst estimates of $60.22 billion. During the same quarter in the prior year, the firm earned $7.14 earnings per share. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 28.15 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, September 21st were given a dividend of $0.5250 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.91%.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: Bank of America expects Meta to exceed third-quarter revenue expectations, forecasting $63.8 billion versus a $63.3 billion consensus estimate, and maintained a Buy rating with an $810 price target. Meta expected to beat revenue forecasts as AI boosts advertising, says Bank of America
• Positive Sentiment: Meta released the open-weight Muse Spark model for coding and AI-agent tasks, while its collaboration with Apple enables developers to run the model locally on high-end Mac computers. The developments could broaden adoption of Meta’s AI technology and reduce reliance on cloud infrastructure. Meta releases open-weight Muse Spark model
• Positive Sentiment: JPMorgan reaffirmed its Overweight rating and set a $920 price target, implying substantial upside, while other analysts including KeyCorp and Rosenblatt also maintained positive ratings. JPMorgan reaffirms Meta rating
• Neutral Sentiment: Meta is expected to report third-quarter results on October 21. Investors will focus on advertising growth, user metrics, profitability, capital expenditures, and management’s outlook for AI infrastructure spending. Meta Q3 earnings estimates
• Neutral Sentiment: Meta withdrew $25 million from a previously announced $65 million effort to support political candidates considered favorable to the AI industry. The move may reduce near-term spending but signals a change in its political strategy. Meta Withdraws $25 Million from Its Midterms Push
• Negative Sentiment: Analyst-related pressure is weighing on the stock after Goldman Sachs lowered its expectations and Meta was reported down following an analyst downgrade, countering the more bullish JPMorgan view. Meta stock price down on analyst downgrade
• Negative Sentiment: Investors remain concerned that AI infrastructure spending could reach approximately $205 billion in 2027. Heavy capital expenditures are reducing free cash flow, while potential legal charges and regulatory scrutiny add to earnings risk. Meta AI spending could hit $205 billion
• Negative Sentiment: Seven U.S. senators are questioning Meta’s claim of $6.6 billion in research tax credits for AI data centers, creating potential tax liability and reputational risk. Senators question Meta AI data-center tax credits

About Meta Platforms

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company operates a global family of apps that includes Facebook, Instagram, Messenger, WhatsApp and Threads, enabling users to connect, communicate, share content and discover communities.

Meta generates most of its business through digital advertising displayed across its platforms. Its products serve individuals, creators, businesses and organizations in markets around the world, while its advertising tools help businesses reach audiences based on factors such as interests, activity and demographics.

Through its Reality Labs division, Meta develops virtual and augmented reality hardware, software and services, including the Meta Quest line of headsets and related experiences.