Meta Platforms, Inc. (NASDAQ:META) Stock Position Raised by Carr Financial Group Corp

Carr Financial Group Corp boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,999 shares of the social networking company’s stock after acquiring an additional 98 shares during the period. Carr Financial Group Corp’s holdings in Meta Platforms were worth $1,144,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its stake in Meta Platforms by 48.8% in the first 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 during the last quarter. Empowered Funds LLC lifted its position in Meta Platforms by 22.4% in the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock valued at $32,629,000 after purchasing an additional 12,301 shares during the last quarter. Cypress Asset Management Inc. TX boosted its stake in Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after purchasing an additional 3,224 shares during the period. SilverOak Wealth Management LLC grew its position in Meta Platforms by 4.9% in the 1st quarter. SilverOak Wealth Management LLC now owns 5,000 shares of the social networking company’s stock worth $2,428,000 after purchasing an additional 233 shares during the last quarter. Finally, Stonebrook Private Inc. increased its stake in shares of Meta Platforms by 4.2% in the first quarter. Stonebrook Private Inc. now owns 3,943 shares of the social networking company’s stock valued at $1,915,000 after purchasing an additional 160 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. Roth Mkm raised their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Piper Sandler raised their price objective on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, Wolfe Research started coverage on Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target on the stock. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Trading Up 0.3 %

NASDAQ META opened at $584.82 on Wednesday. The stock has a 50-day simple moving average of $563.02 and a 200 day simple moving average of $517.29. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.48 trillion, a PE ratio of 27.55, a P/E/G ratio of 1.30 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results 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. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 annualized dividend and a yield of 0.34%. Meta Platforms’s payout ratio is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the transaction, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold 194,714 shares of company stock valued at $103,811,069 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Company Profile

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.