Summit Wealth Group LLC Co. Reduces Stake in Meta Platforms, Inc. $META

Summit Wealth Group LLC Co. reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 28.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,519 shares of the social networking company’s stock after selling 985 shares during the period. Summit Wealth Group LLC Co.’s holdings in Meta Platforms were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after buying an additional 7,269,279 shares during the last quarter. State Street Corp boosted its stake in shares of Meta Platforms by 1.9% in the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after buying an additional 1,650,435 shares during the last quarter. Danske Bank A S purchased a new position in shares of Meta Platforms in the 3rd quarter worth $1,191,175,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Meta Platforms in the 4th quarter worth $813,994,000. Finally, Concentrum Wealth Management boosted its stake in shares of Meta Platforms by 948.7% in the 3rd quarter. Concentrum Wealth Management now owns 1,243,577 shares of the social networking company’s stock worth $913,000 after buying an additional 1,124,998 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 7,847 shares of Meta Platforms stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the transaction, the chief technology officer owned 414 shares in the company, valued at approximately $251,641.62. This trade represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. Also, CFO Susan J. Li sold 56,571 shares of Meta Platforms stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $644.70, for a total value of $36,471,323.70. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 152,728 shares of company stock worth $96,925,217. Corporate insiders own 13.53% of the company’s stock.

Key Meta Platforms News

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

• Positive Sentiment: Meta launched a standalone “Forum” app for Facebook Groups, signaling a new product push that could deepen user engagement and add pressure to competitors like Reddit. Meta quietly launches a new Reddit-like app called Forum
• Positive Sentiment: Meta is cutting jobs and shifting resources toward AI, which investors may view as an efficiency move that supports long-term profit margins and keeps the company focused on its biggest growth area. Meta Cuts 8,000 Jobs, Boosts AI Team: What This Means for Employees
• Neutral Sentiment: Meta also settled a school-district lawsuit over alleged social media addiction harms, removing one legal overhang, though the broader regulatory and litigation risk around its platforms remains. Texas sues Meta, WhatsApp over encryption privacy claims
• Neutral Sentiment: Other headlines around Meta’s dual-class control structure, insider share sales, and broader AI spending debate are adding to the narrative, but they are less likely to drive the stock on their own than the new app launch and workforce reshaping.
• Negative Sentiment: The Texas attorney general’s lawsuit against Meta and WhatsApp over encryption and privacy claims adds another legal risk for investors to monitor. Google, Meta, TikTok face EU consumer complaints about handling of financial scams
• Negative Sentiment: Competition concerns are also in focus after Meta’s Forum app appeared to pressure Reddit shares, reinforcing worries that Meta’s scale lets it copy or crowd out rival social platforms.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Scotiabank raised their target price on Meta Platforms from $685.00 to $700.00 and gave the stock a “sector perform” rating in a report on Thursday, January 29th. BMO Capital Markets raised their target price on Meta Platforms from $710.00 to $730.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,015.00 target price on shares of Meta Platforms in a report on Thursday, April 30th. Robert W. Baird raised their target price on Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Finally, Jefferies Financial Group raised their price target on Meta Platforms from $910.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $840.19.

Meta Platforms Trading Up 0.5%

META opened at $610.26 on Friday. The firm has a market cap of $1.54 trillion, a P/E ratio of 22.18, a P/E/G ratio of 1.07 and a beta of 1.25. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25. 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 50-day moving average of $617.68 and a 200 day moving average of $637.00.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm’s revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the business posted $6.43 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 29.49 EPS for the current year.

Meta Platforms Profile

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.