Opes Wealth Management LLC Has $631,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Opes Wealth Management LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,102 shares of the social networking company’s stock after selling 50 shares during the period. Opes Wealth Management LLC’s holdings in Meta Platforms were worth $631,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several research firms have commented on META. BMO Capital Markets increased their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Susquehanna lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Tigress Financial upped their price objective on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. KeyCorp raised their target price on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the sale, the chief executive officer now owns 98,654 shares of the company’s stock, valued at approximately $50,618,380.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $513.09, for a total value of $8,569,629.18. Following the sale, the chief executive officer now owns 98,654 shares of the company’s stock, valued at $50,618,380.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,919 shares of company stock worth $129,296,067 in the last ninety days. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Down 0.1 %

Shares of NASDAQ META opened at $572.05 on Thursday. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 26.95, a PEG ratio of 1.26 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The firm’s 50 day simple moving average is $557.85 and its two-hundred day simple moving average is $514.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, analysts expect that Meta Platforms, Inc. will post 22.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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