Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Wrapmanager Inc.

Wrapmanager Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 14.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,050 shares of the social networking company’s stock after buying an additional 994 shares during the quarter. Meta Platforms makes up about 1.2% of Wrapmanager Inc.’s investment portfolio, making the stock its 20th biggest holding. Wrapmanager Inc.’s holdings in Meta Platforms were worth $4,608,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of META. China Universal Asset Management Co. Ltd. lifted 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 acquiring an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX lifted 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 worth $1,862,000 after purchasing an additional 3,224 shares during the last quarter. Capital Group Private Client Services Inc. boosted its position in Meta Platforms by 39.1% during the 1st quarter. Capital Group Private Client Services Inc. now owns 223,025 shares of the social networking company’s stock valued at $108,296,000 after purchasing an additional 62,643 shares during the period. Capital International Sarl grew its stake in Meta Platforms by 5.7% during the 1st quarter. Capital International Sarl now owns 292,128 shares of the social networking company’s stock worth $141,852,000 after buying an additional 15,864 shares during the last quarter. Finally, Capital Research Global Investors increased its position in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on META shares. Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target 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. Guggenheim boosted their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Evercore ISI raised their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, UBS Group boosted their price target on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research 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 assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Trading Down 0.4 %

Meta Platforms stock opened at $563.09 on Friday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month 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. The stock has a market cap of $1.42 trillion, a P/E ratio of 26.52, a P/E/G ratio of 1.24 and a beta of 1.22. The company’s fifty day simple moving average is $572.05 and its 200-day simple moving average is $523.31.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for 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 fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued 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 0.36%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $520.48, for a total value of $8,693,056.96. Following the transaction, the chief executive officer now directly owns 2,657 shares of the company’s stock, valued at approximately $1,382,915.36. This trade represents a 86.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,843 shares of company stock valued at $92,083,554. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms 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.