Private Wealth Partners LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Private Wealth Partners LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 34.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,622 shares of the social networking company’s stock after buying an additional 2,454 shares during the period. Private Wealth Partners LLC’s holdings in Meta Platforms were worth $5,508,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of META. China Universal Asset Management Co. Ltd. lifted its holdings in Meta Platforms by 48.8% in the 1st 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. Rockline Wealth Management LLC increased its position in shares of Meta Platforms by 6.5% during the first quarter. Rockline Wealth Management LLC now owns 14,742 shares of the social networking company’s stock worth $7,158,000 after acquiring an additional 904 shares during the last quarter. Hunter Associates Investment Management LLC lifted its stake in shares of Meta Platforms by 5.4% in the first quarter. Hunter Associates Investment Management LLC now owns 2,093 shares of the social networking company’s stock worth $1,017,000 after acquiring an additional 107 shares in the last quarter. Crown Wealth Group LLC boosted its holdings in Meta Platforms by 13.3% in the first quarter. Crown Wealth Group LLC now owns 1,887 shares of the social networking company’s stock valued at $916,000 after purchasing an additional 221 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Meta Platforms by 16.1% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,304 shares of the social networking company’s stock worth $1,604,000 after purchasing an additional 459 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several research analyst reports. Bank of America increased their target price on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Oppenheimer raised their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Robert W. Baird lifted their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Pivotal Research boosted their price objective on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 33,018 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 84 shares of the business’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 sale, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred 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. Insiders sold a total of 243,919 shares of company stock valued at $129,296,067 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 2.1 %

Shares of META stock opened at $572.43 on Wednesday. The stock has a 50-day simple moving average of $556.78 and a 200 day simple moving average of $513.67. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 26.96, a P/E/G ratio of 1.26 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 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.