Parr Mcknight Wealth Management Group LLC Has $15.26 Million Position in Meta Platforms, Inc. $META

Parr Mcknight Wealth Management Group LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 48.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,085 shares of the social networking company’s stock after acquiring an additional 8,882 shares during the period. Meta Platforms comprises approximately 1.8% of Parr Mcknight Wealth Management Group LLC’s portfolio, making the stock its 10th biggest holding. Parr Mcknight Wealth Management Group LLC’s holdings in Meta Platforms were worth $15,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RHL Group LLC purchased a new stake in Meta Platforms during the 4th quarter valued at approximately $28,000. Advantage Trust Co purchased a new position in shares of Meta Platforms in the second quarter worth $28,000. Strategic Wealth Advisors LLC bought a new position in shares of Meta Platforms during the fourth quarter worth $29,000. Niles Investment Management LLC bought a new position in shares of Meta Platforms during the fourth quarter worth $29,000. Finally, Axiom Investment Management LLC purchased a new position in Meta Platforms during the first quarter valued at $36,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.0%

META opened at $616.77 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. The stock’s 50 day moving average price is $596.16 and its 200-day moving average price is $609.26. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $790.80. The stock has a market cap of $1.57 trillion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 1.07 and a beta of 1.25.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The company had revenue of $60.80 billion for the quarter, compared to analysts’ expectations of $60.22 billion. During the same period in the prior year, the firm posted $7.14 earnings per share. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. On average, equities analysts forecast that Meta Platforms, Inc. will post 28.17 EPS for the current year.

Key Meta Platforms News

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

• Positive Sentiment: Meta opened paid developer access to Muse Spark 1.3, with company executives and analysts claiming the model is approaching or matching offerings from Anthropic and OpenAI. Improved performance and token efficiency could support adoption in coding agents, model APIs, subscriptions and future generative-search advertising. Meta Platforms: Muse Spark 1.3 Was The Warning Shot
• Positive Sentiment: Recent coverage identifies Muse Spark 1.3 as a new catalyst that could improve confidence in Meta’s AI roadmap and help the company recover toward its prior highs, provided the technology translates into revenue and returns on investment. Meta Rises 4% as Muse Spark 1.3 Claims Parity with Anthropic and OpenAI
• Positive Sentiment: Some investment commentary views Meta as a major beneficiary of the ongoing AI infrastructure and computing cycle, alongside other hyperscalers, potentially creating a long-term growth opportunity. Hyperscalers Are the Backbone of AI

Analyst Ratings Changes

Several research analysts have commented on META shares. UBS Group dropped their price objective on shares of Meta Platforms from $766.00 to $715.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Raymond James Financial increased their price target on Meta Platforms from $825.00 to $850.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 21st. Phillip Securities raised Meta Platforms to a “strong-buy” rating in a research note on Monday, August 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (down from $800.00) on shares of Meta Platforms in a research note on Thursday, July 30th. Finally, Monness Crespi & Hardt lowered their target price on Meta Platforms from $890.00 to $730.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $785.22.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 3,348 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $600.97, for a total value of $2,012,047.56. Following the transaction, the chief operating officer owned 9,498 shares of the company’s stock, valued at $5,708,013.06. This represents a 26.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 1,559 shares of Meta Platforms stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $869,922.00. Following the sale, the insider directly owned 1,957 shares of the company’s stock, valued at approximately $1,092,006. This trade represents a 44.34% 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. In the last three months, insiders sold 32,987 shares of company stock valued at $19,202,995. 13.53% of the stock is owned by insiders.

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.