DAVENPORT 13F: Cuts Meta Platforms (META) Stake by $35M

Davenport reduced its stake in Meta Platforms, Inc. (NasdaqGS: META) during the period, cutting its holdings by 19.6% according to a Form 13F filing with the SEC on October 14, 2026. The firm sold 47,992 shares to wrap up the quarter with 197,179 shares valued at $143,476,270. Keep in mind that 13F filings are backward-looking; they show holdings as of the end of the reporting quarter and may not represent the fund's current position.

What Changed in Davenport's Meta Platforms Position

Davenport's recent move brought its share count down from 245,171 to 197,179 shares. The 19.6% reduction trimmed a sizeable chunk of the firm's investment in the social media giant, though the remaining stake still commands a value in the millions. Because these regulatory filings only capture a snapshot at the close of the quarter, the exact timing of the trades within that period remains private to the fund.

Other Institutional Activity in Meta Platforms

Other large funds made notable adjustments to their Meta holdings around the same time. Blackrock Inc. grew its holdings by 4,558,635 shares, ending with 173,396,976 shares worth about $122,994,812,117 after a 2.7% increase. Vanguard Capital Management LLC lifted its stake by 1,307,627 shares, finishing with 143,440,997 shares valued at $101,746,286,948 following a 0.9% bump. FMR, LLC cut its position by 20,723,183 shares, bringing its total down to 95,895,744 shares worth roughly $68,021,249,783 after a 17.8% drop. State Street Corporation added 3,514,233 shares for a 4.0% increase, ending with 92,033,963 shares valued at $65,281,991,928. Geode Capital Management, LLC raised its stake by 785,385 shares, holding 54,949,893 shares worth about $38,977,333,523 after a 1.5% boost.

Meta Platforms, Inc. Stock Down 4.4%

Meta Platforms recently traded around $705.01 as of October 16, 2026, sitting 9.6% below its 52-week high of $779.82 and well above its 52-week low of $520.26. The stock trades about 8.5% above its 50-day moving average of $649.89 and roughly 11.7% above its 200-day moving average of $631.37.

Recent Earnings

Meta Platforms reported trailing-twelve-month revenue of $228,246,994,944 alongside trailing earnings of $26.54 per share. The company posted a net margin of 29.8% and a return on equity of 29.8%, with year-over-year revenue growth coming in at 28.0%. The next earnings report is scheduled for October 21, 2026.

Dividend

Meta Platforms pays an annual dividend yielding 0.29% with a payout ratio of 7.9%.

Insider Buying and Selling at Meta Platforms, Inc.

Chief Operating Officer Javier Olivan completed several transactions ahead of the filing. On September 28, 2026, Olivan sold 1,575 shares valued at $1,180,966. On October 5, 2026, Olivan sold another 1,575 shares at an average price of $728.08 for a total value of $1,146,726. On October 12, 2026, Olivan sold 1,575 shares under a planned arrangement at an average price of $728.10 worth $1,146,757.50, and another 1,575 shares at an average price of $728.10 for $1,146,758.00.

Analysts Set New Price Targets

On October 12, 2026, Cantor Fitzgerald maintained its Overweight rating while lowering its price target to $840.00 from $860.00. On October 13, 2026, Pivotal Research maintained a Buy rating and raised its target from $790.00 to $930.00. Truist Securities maintained a Buy rating on October 13, 2026, lifting its target from $763.00 to $1,000.00. Keybanc reiterated its Overweight rating on October 13, 2026, holding its target steady at $900.00. Rosenblatt maintained a Buy rating on October 13, 2026, keeping its price target at $886.00. Across the broader analyst community, the stock carries a consensus Strong Buy recommendation and a mean price target of $813.65 based on 58 analyst opinions.

About Meta Platforms

Meta Platforms builds digital products that help people connect through mobile devices, personal computers, virtual reality headsets, and AI glasses. The company operates through its Family of Apps and Reality Labs segments. Davenport's reduction in shares comes as the tech heavyweight prepares for its next quarterly financial update.

Bottom Line

Investors tracking Davenport's portfolio adjustments will want to watch Meta's upcoming earnings report on October 21, 2026, for fresh details on financial performance. Because 13F filings look backward, checking future filings will show whether Davenport continues to trim its stake or changes direction.