Angeles Wealth Management LLC Buys 639 Shares of Meta Platforms, Inc. (NASDAQ:META)

Angeles Wealth Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,834 shares of the social networking company’s stock after acquiring an additional 639 shares during the quarter. Meta Platforms makes up 0.4% of Angeles Wealth Management LLC’s holdings, making the stock its 26th biggest position. Angeles Wealth Management LLC’s holdings in Meta Platforms were worth $5,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after buying an additional 16,138 shares in the last quarter. Graypoint LLC boosted its holdings in shares of Meta Platforms by 5.8% in the first quarter. Graypoint LLC now owns 18,773 shares of the social networking company’s stock worth $9,116,000 after acquiring an additional 1,033 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Meta Platforms by 27.5% in the first quarter. Daiwa Securities Group Inc. now owns 575,938 shares of the social networking company’s stock valued at $279,663,000 after purchasing an additional 124,357 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC raised its stake in shares of Meta Platforms by 8.6% during the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,941 shares of the social networking company’s stock valued at $1,428,000 after purchasing an additional 232 shares during the period. Finally, Magnolia Capital Advisors LLC lifted its holdings in Meta Platforms by 32.0% during the 1st quarter. Magnolia Capital Advisors LLC now owns 5,781 shares of the social networking company’s stock worth $2,781,000 after purchasing an additional 1,401 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now owns 37,817 shares of the company’s stock, valued at $19,197,043.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,919 shares of company stock valued at $129,296,067. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on META. Oppenheimer upped their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Monness Crespi & Hardt increased their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wolfe Research began coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target for the company. Sanford C. Bernstein increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus boosted their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $572.05 on Thursday. The business has a 50 day moving average of $557.85 and a 200 day moving average of $514.31. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a market cap of $1.45 trillion, a PE ratio of 26.95, a P/E/G ratio of 1.26 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.44 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.