Carr Financial Group Corp Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Carr Financial Group Corp lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,999 shares of the social networking company’s stock after purchasing an additional 98 shares during the period. Carr Financial Group Corp’s holdings in Meta Platforms were worth $1,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of META. China Universal Asset Management Co. Ltd. grew its holdings in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after buying an additional 16,138 shares in the last quarter. Empowered Funds LLC increased its stake in Meta Platforms by 22.4% in the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock worth $32,629,000 after acquiring an additional 12,301 shares during the last quarter. Cypress Asset Management Inc. TX raised its holdings in shares of Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after acquiring an additional 3,224 shares in the last quarter. SilverOak Wealth Management LLC boosted its position in shares of Meta Platforms by 4.9% during the 1st quarter. SilverOak Wealth Management LLC now owns 5,000 shares of the social networking company’s stock valued at $2,428,000 after acquiring an additional 233 shares during the last quarter. Finally, Stonebrook Private Inc. lifted its position in Meta Platforms by 4.2% during the first quarter. Stonebrook Private Inc. now owns 3,943 shares of the social networking company’s stock valued at $1,915,000 after purchasing an additional 160 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $584.82 on Wednesday. The firm’s 50 day moving average is $563.02 and its two-hundred day moving average is $517.29. The firm has a market capitalization of $1.48 trillion, a P/E ratio of 27.55, a P/E/G ratio of 1.30 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 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 released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 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 during the quarter, compared to analysts’ expectations of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the sale, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. This trade 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 at this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 194,714 shares of company stock valued at $103,811,069 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of research analyst reports. Piper Sandler increased their target price on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Citigroup boosted their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Bank of America boosted their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Evercore ISI increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.