Capital Asset Advisory Services LLC Has $10.30 Million Stock Holdings in Meta Platforms, Inc. $META

Capital Asset Advisory Services LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 11.2% in the third quarter, Holdings Channel.com reports. The firm owned 14,030 shares of the social networking company’s stock after acquiring an additional 1,418 shares during the period. Capital Asset Advisory Services LLC’s holdings in Meta Platforms were worth $10,303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Infusive Asset Management Inc. lifted its stake in Meta Platforms by 10.7% in the first quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock valued at $13,614,000 after buying an additional 2,285 shares during the period. Spirepoint Private Client LLC grew its position in shares of Meta Platforms by 2.7% during the 2nd quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after buying an additional 109 shares during the period. Diversify Advisory Services LLC increased its stake in shares of Meta Platforms by 10.4% in the 2nd quarter. Diversify Advisory Services LLC now owns 55,431 shares of the social networking company’s stock valued at $43,790,000 after acquiring an additional 5,224 shares during the last quarter. CW Advisors LLC raised its position in shares of Meta Platforms by 27.8% in the 2nd quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock valued at $130,467,000 after acquiring an additional 38,432 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in Meta Platforms by 11.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock worth $155,387,000 after acquiring an additional 20,912 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on META shares. KeyCorp reduced their price target on shares of Meta Platforms from $905.00 to $875.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Mizuho dropped their price objective on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Erste Group Bank cut Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. BNP Paribas assumed coverage on Meta Platforms in a report on Monday, November 24th. They issued an “outperform” rating and a $800.00 price target for the company. Finally, BNP Paribas Exane started coverage on Meta Platforms in a report on Monday, November 24th. They set an “outperform” rating and a $800.00 price objective on the stock. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $819.46.

Meta Platforms Price Performance

NASDAQ META opened at $657.15 on Wednesday. The firm’s 50 day moving average is $663.44 and its 200-day moving average is $707.81. 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 company has a market capitalization of $1.66 trillion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.36 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.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating 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 business had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter last year, the firm earned $6.03 earnings per share. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $664.16, for a total transaction of $344,699.04. Following the completion of the transaction, the insider directly owned 30,215 shares of the company’s stock, valued at approximately $20,067,594.40. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Aaron Anderson sold 726 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the transaction, the chief accounting officer owned 6,035 shares of the company’s stock, valued at approximately $3,570,306. This represents a 10.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 40,458 shares of company stock worth $25,436,200. Insiders own 13.61% of the company’s stock.

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.