Cape ANN Savings Bank Cuts Position in Meta Platforms, Inc. $META

Cape ANN Savings Bank trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.9% in the first quarter, HoldingsChannel.com reports. The fund owned 2,533 shares of the social networking company’s stock after selling 159 shares during the period. Meta Platforms makes up 0.9% of Cape ANN Savings Bank’s investment portfolio, making the stock its 26th largest position. Cape ANN Savings Bank’s holdings in Meta Platforms were worth $1,460,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Meta Platforms during the 1st quarter worth $33,000. JCIC Asset Management Inc. increased its stake in shares of Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock worth $46,000 after purchasing an additional 40 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new stake in Meta Platforms during the 4th quarter valued at $47,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Mark Zuckerberg sold 15,847 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $753.43, for a total transaction of $11,939,605.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 18,332 shares of Meta Platforms stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $764.71, for a total value of $14,018,663.72. Following the transaction, the chief financial officer owned 84,141 shares of the company’s stock, valued at approximately $64,343,464.11. This represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,284 shares of company stock valued at $235,008,531 in the last quarter. 13.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

META has been the topic of several research analyst reports. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $780.00 to $860.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Royal Bank Of Canada upped their target price on Meta Platforms from $740.00 to $840.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Robert W. Baird upped their price objective on Meta Platforms from $635.00 to $740.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Citigroup restated an “outperform” rating on shares of Meta Platforms in a research note on Thursday, July 31st. Finally, Rosenblatt Securities lifted their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $822.41.

Meta Platforms Trading Down 0.9%

NASDAQ:META opened at $747.38 on Thursday. The company has a market capitalization of $1.88 trillion, a P/E ratio of 27.06, a PEG ratio of 1.56 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The firm has a fifty day simple moving average of $733.50 and a 200-day simple moving average of $658.54.

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

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.