Napa Wealth Management raised its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 381.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,620 shares of the social networking company’s stock after purchasing an additional 6,038 shares during the period. Meta Platforms accounts for approximately 2.1% of Napa Wealth Management’s investment portfolio, making the stock its 5th largest holding. Napa Wealth Management’s holdings in Meta Platforms were worth $4,362,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of META. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms in the third quarter valued at approximately $46,000. West Financial Advisors LLC acquired a new position in Meta Platforms during the third quarter worth $49,000. Finally, NewSquare Capital LLC lifted its stake in Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after buying an additional 71 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on META. Pivotal Research raised their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Susquehanna raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Sanford C. Bernstein lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Morgan Stanley boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $634.10.
Insider Transactions at Meta Platforms
In related news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the transaction, the insider now directly owns 338,662 shares in the company, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The stock was 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. Over the last quarter, insiders sold 185,958 shares of company stock valued at $101,181,747. 13.71% of the stock is currently owned by corporate insiders.
Meta Platforms Price Performance
Shares of NASDAQ META opened at $565.52 on Thursday. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.23 and a beta of 1.22. 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, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The business has a 50-day moving average of $571.30 and a 200-day moving average of $523.03.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.
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.
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