Werba Rubin Papier Wealth Management Acquires 194 Shares of Meta Platforms, Inc. (NASDAQ:META)

Werba Rubin Papier Wealth Management grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,217 shares of the social networking company’s stock after purchasing an additional 194 shares during the quarter. Meta Platforms comprises about 0.7% of Werba Rubin Papier Wealth Management’s investment portfolio, making the stock its 25th biggest position. Werba Rubin Papier Wealth Management’s holdings in Meta Platforms were worth $2,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Gradient Investments LLC lifted its stake in shares of Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after buying an additional 5,953 shares during the last quarter. Baillie Gifford & Co. lifted its position in Meta Platforms by 14.0% during the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after acquiring an additional 748,076 shares during the last quarter. ERn Financial LLC boosted its holdings in Meta Platforms by 59.0% during the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock valued at $802,000 after acquiring an additional 613 shares during the period. Stanley Laman Group Ltd. grew its position in shares of Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after purchasing an additional 352 shares during the last quarter. Finally, Lincoln National Corp increased its stake in shares of Meta Platforms by 7.8% in the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after purchasing an additional 2,504 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on META. Bank of America increased their target price on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. DA Davidson initiated coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Mizuho upped their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. TD Securities raised their price target on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Finally, Robert W. Baird upped their price objective on shares of Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $617.37.

Meta Platforms Trading Down 0.2 %

META opened at $575.16 on Tuesday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The firm has a 50-day moving average price of $547.72 and a two-hundred day moving average price of $509.22. The stock has a market capitalization of $1.46 trillion, a PE ratio of 33.04, a PEG ratio of 1.45 and a beta of 1.22. 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 (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping 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 net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.23 EPS. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares in the company, valued at approximately $19,641,281.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00. Following the completion of the sale, the chief operating officer now directly owns 5,559 shares of the company’s stock, valued at $2,573,817. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total value of $533,922.85. Following the completion of the transaction, the insider now directly owns 33,292 shares in the company, valued at $19,641,281.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,911 shares of company stock worth $131,978,559 over the last 90 days. Insiders own 13.71% of the company’s stock.

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.