Meta Platforms, Inc. (NASDAQ:META) Holdings Increased by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.4% in the 3rd quarter, Holdings Channel reports. The firm owned 10,597 shares of the social networking company’s stock after acquiring an additional 143 shares during the period. Meta Platforms accounts for 2.0% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 9th biggest holding. Argonautica Private Wealth Management Inc.’s holdings in Meta Platforms were worth $6,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its holdings 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 worth $23,886,000 after purchasing an additional 16,138 shares during the last quarter. Rockline Wealth Management LLC boosted its stake in shares of Meta Platforms by 6.5% in the 1st quarter. Rockline Wealth Management LLC now owns 14,742 shares of the social networking company’s stock worth $7,158,000 after buying an additional 904 shares during the last quarter. Hunter Associates Investment Management LLC grew its holdings 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 during the period. Crown Wealth Group LLC increased its position in Meta Platforms by 13.3% during the first quarter. Crown Wealth Group LLC now owns 1,887 shares of the social networking company’s stock valued at $916,000 after acquiring an additional 221 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in Meta Platforms by 16.1% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,304 shares of the social networking company’s stock valued at $1,604,000 after acquiring an additional 459 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Up 2.1 %

Shares of NASDAQ META opened at $572.43 on Wednesday. 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 debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.26 and a beta of 1.22. The business’s 50 day moving average price is $556.78 and its 200-day moving average price is $513.67.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.44 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

META has been the subject of several research reports. Morgan Stanley upped their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Susquehanna boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Loop Capital boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now owns 37,817 shares of the company’s stock, valued at $19,197,043.71. This represents 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 through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the sale, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $567.58, for a total value of $234,410.54. Following the transaction, the chief operating officer now owns 10,294 shares in the company, valued at approximately $5,842,668.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,919 shares of company stock valued at $129,296,067. 13.71% of the stock is currently owned by company insiders.

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.