Crestwood Advisors Group LLC Has $62.60 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Crestwood Advisors Group LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 920.8% in the third quarter, Holdings Channel reports. The firm owned 109,360 shares of the social networking company’s stock after purchasing an additional 98,647 shares during the period. Meta Platforms accounts for 1.2% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 26th biggest holding. Crestwood Advisors Group LLC’s holdings in Meta Platforms were worth $62,601,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of META. Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new position in shares of Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $49,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on META. Piper Sandler raised their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Evercore ISI boosted their price target on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $589.34 on Friday. The business’s 50 day moving average is $560.42 and its 200-day moving average is $515.25. The firm has a market cap of $1.49 trillion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted 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 company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 0.34%. Meta Platforms’s payout ratio is presently 9.42%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s 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 completion of the sale, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the sale, the chief executive officer now owns 72,473 shares of the company’s stock, valued at $38,302,705.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 228,118 shares of company stock valued at $121,237,935. 13.71% of the stock is currently owned by company insiders.

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.