CreativeOne Wealth LLC Boosts Stock Position in Meta Platforms, Inc. $META

CreativeOne Wealth LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,654 shares of the social networking company’s stock after acquiring an additional 2,557 shares during the period. Meta Platforms comprises 0.7% of CreativeOne Wealth LLC’s investment portfolio, making the stock its 28th biggest position. CreativeOne Wealth LLC’s holdings in Meta Platforms were worth $27,792,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Evergreen Private Wealth LLC boosted its stake in shares of Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 38 shares during the period. Briaud Financial Planning Inc acquired a new stake in Meta Platforms during the 2nd quarter worth approximately $42,000. WFA Asset Management Corp boosted its position in Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after buying an additional 20 shares during the period. Maseco LLP acquired a new position in shares of Meta Platforms in the second quarter worth $54,000. Finally, eCIO Inc. purchased a new stake in shares of Meta Platforms during the first quarter worth $58,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META opened at $639.60 on Thursday. The company has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $676.31 and a 200 day moving average price of $706.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter in the previous year, the firm earned $6.03 EPS. The company’s revenue was up 26.2% compared to the same quarter last year. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 15th. Meta Platforms’s dividend payout ratio is currently 9.28%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. BNP Paribas assumed coverage on Meta Platforms in a report on Monday, November 24th. They issued an “outperform” rating and a $800.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $900.00 price target on shares of Meta Platforms in a research report on Thursday, October 30th. BNP Paribas Exane started coverage on Meta Platforms in a research note on Monday, November 24th. They issued an “outperform” rating and a $800.00 price objective for the company. Oppenheimer lowered shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 30th. Finally, Citigroup reduced their target price on shares of Meta Platforms from $915.00 to $850.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $823.93.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 11,690 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the transaction, the chief technology officer owned 2,415 shares in the company, valued at $1,432,843.65. This trade represents a 82.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 2,610 shares of Meta Platforms stock in a transaction that occurred on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the transaction, the chief operating officer directly owned 9,784 shares in the company, valued at approximately $5,962,956.64. This trade represents a 21.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,440 shares of company stock valued at $26,337,795. Corporate insiders own 13.61% of the company’s stock.

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.