Beacon Pointe Advisors LLC Acquires 11,432 Shares of Meta Platforms, Inc. $META

Beacon Pointe Advisors LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,702 shares of the social networking company’s stock after acquiring an additional 11,432 shares during the quarter. Meta Platforms comprises approximately 1.0% of Beacon Pointe Advisors LLC’s portfolio, making the stock its 18th biggest holding. Beacon Pointe Advisors LLC’s holdings in Meta Platforms were worth $97,208,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Meta Platforms by 0.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock valued at $2,587,000 after buying an additional 13 shares in the last quarter. Pachira Investments Inc. boosted its position in shares of Meta Platforms by 3.0% in the second quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock valued at $360,000 after acquiring an additional 14 shares during the period. Hemington Wealth Management grew its stake in Meta Platforms by 0.6% during the second quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock valued at $1,641,000 after acquiring an additional 14 shares in the last quarter. Myecfo LLC increased its holdings in Meta Platforms by 2.0% during the 2nd quarter. Myecfo LLC now owns 776 shares of the social networking company’s stock worth $573,000 after acquiring an additional 15 shares during the period. Finally, Shelton Wealth Management LLC increased its holdings in Meta Platforms by 0.9% during the 2nd quarter. Shelton Wealth Management LLC now owns 1,764 shares of the social networking company’s stock worth $1,302,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 1.0%

Shares of NASDAQ META opened at $666.80 on Tuesday. The stock has a market capitalization of $1.68 trillion, a P/E ratio of 29.45, a PEG ratio of 1.41 and a beta of 1.28. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The firm’s 50 day simple moving average is $671.62 and its two-hundred day simple moving average is $707.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be given a dividend of $0.525 per share. 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 presently 9.28%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. KeyCorp reduced their price target on shares of Meta Platforms from $905.00 to $875.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Royal Bank Of Canada reduced their target price on Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. BNP Paribas initiated coverage on Meta Platforms in a research note on Monday, November 24th. They issued an “outperform” rating and a $800.00 target price on the stock. Jefferies Financial Group lowered their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Monness Crespi & Hardt cut their price objective on Meta Platforms from $860.00 to $808.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $819.43.

Insider Activity

In other news, COO Javier Olivan sold 2,610 shares of the company’s stock in a transaction dated Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the completion of the transaction, the chief operating officer directly owned 9,784 shares of the company’s stock, valued at approximately $5,962,956.64. This represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Aaron Anderson sold 726 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the sale, the chief accounting officer owned 6,035 shares of the company’s stock, valued at approximately $3,570,306. This trade represents a 10.74% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 40,923 shares of company stock valued at $25,887,293. Company insiders own 13.61% of the company’s stock.

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.