Patriot Financial Group Insurance Agency LLC Has $18.43 Million Stock Holdings in Meta Platforms, Inc. $META

Patriot Financial Group Insurance Agency LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 137.3% in the 1st quarter, HoldingsChannel reports. The fund owned 32,212 shares of the social networking company’s stock after acquiring an additional 18,638 shares during the period. Meta Platforms comprises approximately 1.0% of Patriot Financial Group Insurance Agency LLC’s holdings, making the stock its 12th biggest position. Patriot Financial Group Insurance Agency LLC’s holdings in Meta Platforms were worth $18,429,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, insider Curtis J. Mahoney sold 2,079 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total value of $1,268,023.68. Following the completion of the sale, the insider directly owned 1,118 shares in the company, valued at $681,890.56. This trade represents a 65.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 504 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $629.29, for a total value of $317,162.16. Following the completion of the sale, the director directly owned 3,943 shares of the company’s stock, valued at $2,481,290.47. The trade was a 11.33% 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. Over the last ninety days, insiders sold 39,013 shares of company stock worth $24,115,999. 13.53% of the stock is currently owned by company insiders.

Meta Platforms News Roundup

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

• Positive Sentiment: Reports that Meta is building a cloud business to sell excess AI compute have fueled a sharp rally, as investors see a fresh way to turn heavy AI investment into revenue. Zuckerberg says AI agent development going slower than expected
• Positive Sentiment: Wall Street has reacted favorably to the cloud-compute plan, with analysts and media coverage suggesting the strategy could become a multi-billion-dollar business and improve META’s monetization profile. Meta’s push into cloud computing means Wall Street has to prepare for lower margins
• Positive Sentiment: Unusual options activity showed strong investor demand for upside exposure, suggesting traders are positioning for further gains if Meta confirms the cloud strategy. Jim Cramer Says Meta Is Entering AI’s ‘Most Lucrative Game’
• Neutral Sentiment: Meta also rolled out a new AI-powered gaming app called Pocket, which highlights continued product experimentation but is not yet a major earnings driver. Meta quietly launches vibe-coded gaming app Pocket
• Neutral Sentiment: Meta announced it is joining a video distribution patent pool, which could reduce legal friction around video content but is unlikely to move the stock on its own. Access Advance Welcomes Meta Platforms, Inc. and Alibaba Group to the Video Distribution Patent Pool
• Negative Sentiment: Mark Zuckerberg said AI agent development has been progressing more slowly than expected, a reminder that Meta’s broader AI ambitions may take longer to pay off. Zuckerberg says AI agent development going slower than expected
• Negative Sentiment: India asked Meta to delay WhatsApp usernames over fraud concerns, adding regulatory risk around a feature tied to WhatsApp monetization and privacy efforts. India asks Meta to hold WhatsApp username rollout over fraud fears
• Negative Sentiment: Meta also lost a bid to dismiss a states’ lawsuit over Facebook and Instagram addiction claims, which keeps legal overhang in focus. Meta loses bid to dismiss states’ lawsuit over Facebook and Instagram addiction claims

Meta Platforms Trading Down 4.9%

Shares of META stock opened at $582.88 on Friday. The company has a market cap of $1.47 trillion, a P/E ratio of 21.19, a PEG ratio of 1.08 and a beta of 1.25. The stock has a 50 day simple moving average of $604.62 and a two-hundred day simple moving average of $628.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 33.1% compared to the same quarter last year. During the same period in the prior year, the business earned $6.43 EPS. Research analysts forecast that Meta Platforms, Inc. will post 29.46 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Wall Street Analyst Weigh In

META has been the topic of a number of recent analyst reports. Mizuho cut their price objective on Meta Platforms from $850.00 to $835.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Wells Fargo & Company increased their target price on shares of Meta Platforms from $765.00 to $767.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank Of Canada restated an “outperform” rating and set a $810.00 price target on shares of Meta Platforms in a report on Monday, June 1st. Wedbush upgraded shares of Meta Platforms from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings lowered shares of Meta Platforms from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $840.64.

Meta Platforms Company 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.