Meta Platforms, Inc. $META Shares Bought by CW Advisors LLC

CW Advisors LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 27.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 176,762 shares of the social networking company’s stock after acquiring an additional 38,432 shares during the period. Meta Platforms accounts for 1.3% of CW Advisors LLC’s portfolio, making the stock its 6th biggest position. CW Advisors LLC’s holdings in Meta Platforms were worth $130,467,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of META. Kingstone Capital Partners Texas LLC increased its stake in Meta Platforms by 608,429.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock valued at $44,119,937,000 after buying an additional 59,766,000 shares during the period. Norges Bank purchased a new stake in shares of Meta Platforms in the second quarter valued at about $23,155,393,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 73,443.1% in the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock valued at $6,212,506,000 after acquiring an additional 8,405,558 shares in the last quarter. Nuveen LLC acquired a new position in shares of Meta Platforms during the first quarter worth about $2,990,544,000. Finally, Vanguard Group Inc. raised its holdings in Meta Platforms by 0.8% during the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock worth $142,149,566,000 after purchasing an additional 1,532,568 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, Director Robert M. Kimmitt sold 600 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the transaction, the director directly owned 7,347 shares in the company, valued at approximately $4,476,894.45. This represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction dated 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 sale, the chief technology officer owned 2,415 shares of the company’s stock, valued at approximately $1,432,843.65. This trade represents a 82.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,923 shares of company stock worth $25,887,293 in the last quarter. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Down 1.5%

Shares of NASDAQ META opened at $656.96 on Wednesday. The firm’s 50-day moving average is $670.07 and its two-hundred day moving average is $707.44. The company has a market capitalization of $1.66 trillion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.40 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. 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 issued its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. The firm had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.03 EPS. Equities analysts anticipate 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. Investors of record on Monday, December 15th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.28%.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Truist Financial lowered their price objective on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. BNP Paribas Exane assumed coverage on Meta Platforms in a research note on Monday, November 24th. They issued an “outperform” rating and a $800.00 price target on the stock. Barclays cut their price objective on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Jefferies Financial Group decreased their target price on shares of Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Mizuho lowered their price target on shares of Meta Platforms from $925.00 to $815.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $821.63.

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.