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Highlights:
Independent Advisor Alliance reduced its holdings in Meta Platforms by 4.6% during Q3, lowering its position to 64,908 shares.
Several institutional investors, including Jennison Associates and Charles Schwab Investment Management, increased their stakes in Meta Platforms.
Meta Platforms stock has seen recent analyst upgrades, with several firms setting higher price objectives.
Independent Advisor Alliance lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 4.6% during the third quarter, according to the latest 13F filing with the Securities and Exchange Commission. The firm held 64,908 shares of Meta at the end of the quarter after selling 3,165 shares. Meta represents roughly 1.4% of Independent Advisor Alliance’s total holdings, making it the fund's 12th largest position. The fund's holdings in Meta were valued at approximately $37 million as of the end of the third quarter.
Alongside Independent Advisor Alliance’s adjustment, other institutional investors have made notable changes to their positions in Meta. Jennison Associates LLC increased its stake by 1.9%, bringing its total shares to over 14 million. Similarly, Charles Schwab Investment Management raised its holdings by 0.9%, and Fisher Asset Management increased its stake by 4.6% in the same period. In contrast, International Assets Investment Management made a significant move, increasing its stake by over 57,000%, acquiring an additional 9.5 million shares.
Meta Platforms has garnered attention from analysts, with several research firms upgrading their outlook on the stock. Cantor Fitzgerald reiterated an "overweight" rating with a price objective of $670, while Jefferies Financial Group raised its target to $675. Other firms, including Rosenblatt Securities and Stifel Nicolaus, also set higher price objectives, with Rosenblatt's target reaching $811. These analyst actions reflect confidence in Meta’s future growth potential, as the company continues to perform well financially.
Meta recently reported strong quarterly earnings, surpassing expectations with earnings per share of $6.03 and revenue of $40.59 billion. The company's robust financial performance, along with consistent institutional interest, highlights its ongoing strength in the market. Additionally, Meta announced a quarterly dividend payout, which was distributed to shareholders in September, demonstrating its commitment to returning value to stakeholders.
