Barrett & Company Inc. Has $3.24 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Barrett & Company Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,658 shares of the social networking company’s stock after purchasing an additional 101 shares during the quarter. Meta Platforms accounts for about 1.4% of Barrett & Company Inc.’s portfolio, making the stock its 20th biggest position. Barrett & Company Inc.’s holdings in Meta Platforms were worth $3,239,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Park Place Capital Corp boosted its stake in Meta Platforms by 10.6% in the 1st quarter. Park Place Capital Corp now owns 3,718 shares of the social networking company’s stock worth $1,805,000 after purchasing an additional 357 shares during the period. Oak Thistle LLC bought a new stake in shares of Meta Platforms in the first quarter valued at about $345,000. Congress Wealth Management LLC DE boosted its position in shares of Meta Platforms by 34.3% during the first quarter. Congress Wealth Management LLC DE now owns 62,486 shares of the social networking company’s stock worth $30,342,000 after buying an additional 15,949 shares during the period. WESPAC Advisors SoCal LLC grew its holdings in shares of Meta Platforms by 43.6% during the first quarter. WESPAC Advisors SoCal LLC now owns 2,858 shares of the social networking company’s stock worth $1,388,000 after buying an additional 868 shares in the last quarter. Finally, Iams Wealth Management LLC raised its position in Meta Platforms by 135.9% in the 1st quarter. Iams Wealth Management LLC now owns 2,062 shares of the social networking company’s stock valued at $998,000 after buying an additional 1,188 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the transaction, the chief operating officer now owns 10,707 shares of the company’s stock, valued at approximately $6,147,531.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,818 shares of company stock worth $132,569,993 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.2 %

Shares of META opened at $591.80 on Thursday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $296.86 and a 12 month high of $602.95. The firm’s 50 day moving average is $554.49 and its 200-day moving average is $512.18. The stock has a market capitalization of $1.50 trillion, a PE ratio of 33.99, a P/E/G ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.23 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is 11.49%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on META. Mizuho raised their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Loop Capital raised their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Rosenblatt Securities boosted their price target on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. JMP Securities raised their price objective on Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a report on Thursday, September 26th. Finally, BMO Capital Markets lifted their target price on Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a research report on Wednesday, October 9th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $621.63.

Meta Platforms 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.