Blake Schutter Theil Wealth Advisors LLC Purchases New Stake in Meta Platforms, Inc. (NASDAQ:META)

Blake Schutter Theil Wealth Advisors LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 1,723 shares of the social networking company’s stock, valued at approximately $986,000.

Other large investors also recently added to or reduced their stakes in the company. M&G PLC grew its stake in shares of Meta Platforms by 14.6% during the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after purchasing an additional 91,773 shares during the period. D.B. Root & Company LLC boosted its holdings in Meta Platforms by 6.2% during the third quarter. D.B. Root & Company LLC now owns 5,728 shares of the social networking company’s stock worth $3,279,000 after buying an additional 335 shares during the last quarter. Spinnaker Trust grew its position in shares of Meta Platforms by 7.7% during the 3rd quarter. Spinnaker Trust now owns 1,798 shares of the social networking company’s stock worth $1,029,000 after buying an additional 129 shares during the period. CV Advisors LLC increased its stake in shares of Meta Platforms by 479.0% in the 3rd quarter. CV Advisors LLC now owns 2,889 shares of the social networking company’s stock valued at $1,654,000 after acquiring an additional 2,390 shares during the last quarter. Finally, Consilium Wealth Advisory LLC raised its position in shares of Meta Platforms by 3.6% in the 3rd quarter. Consilium Wealth Advisory LLC now owns 5,621 shares of the social networking company’s stock valued at $3,217,000 after acquiring an additional 193 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the transaction, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. This trade 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 accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the sale, the insider now directly owns 30,581 shares in the company, valued at $17,360,833.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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. In the last three months, insiders sold 228,118 shares of company stock worth $121,237,935. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 0.4 %

Shares of Meta Platforms stock opened at $589.34 on Friday. 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 firm has a 50-day moving average of $561.78 and a 200-day moving average of $516.13. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The stock has a market cap of $1.49 trillion, a PE ratio of 27.76, a PEG ratio of 1.27 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. 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 presently 9.42%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Oppenheimer boosted their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Guggenheim boosted their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Jefferies Financial Group raised their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Two investment 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 given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

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.