Brady Family Wealth LLC Boosts Stake in Meta Platforms, Inc. $META

Brady Family Wealth LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 14.5% during the 3rd quarter, Holdings Channel reports. The firm owned 6,989 shares of the social networking company’s stock after buying an additional 885 shares during the quarter. Meta Platforms comprises 1.6% of Brady Family Wealth LLC’s portfolio, making the stock its 23rd largest holding. Brady Family Wealth LLC’s holdings in Meta Platforms were worth $5,133,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Meta Platforms by 0.4% in 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 acquiring an additional 13 shares during the last quarter. Pachira Investments Inc. lifted its holdings in shares of Meta Platforms by 3.0% in the 2nd quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock valued at $360,000 after buying an additional 14 shares during the period. Hemington Wealth Management boosted its stake in shares of Meta Platforms by 0.6% in the second quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock worth $1,641,000 after buying an additional 14 shares during the last quarter. Trust Co of the South boosted its stake in shares of Meta Platforms by 0.8% in the third quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock worth $1,359,000 after buying an additional 14 shares during the last quarter. Finally, Vista Capital Partners Inc. raised its position in Meta Platforms by 1.3% during the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after acquiring an additional 14 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Roth Capital reissued a “buy” rating on shares of Meta Platforms in a research note on Thursday, October 30th. Sanford C. Bernstein reissued an “outperform” rating and issued a $870.00 price objective (down from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. Wall Street Zen downgraded Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, Citizens Jmp reissued an “outperform” rating and issued a $900.00 price target (up previously from $750.00) on shares of Meta Platforms in a research note on Monday, November 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $818.59.

Get Our Latest Stock Report on Meta Platforms

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of the firm’s stock in a transaction 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 completion of the sale, the chief technology officer owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This trade represents a 82.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Aaron Anderson sold 726 shares of Meta Platforms stock in a transaction 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 sale, the chief accounting officer owned 6,035 shares in the company, valued at $3,570,306. This represents a 10.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,038 shares of company stock valued at $25,675,535 in the last ninety days. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 0.4%

META opened at $661.50 on Tuesday. The firm has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 1.38 and a beta of 1.28. The company’s 50 day simple moving average is $658.67 and its two-hundred day simple moving average is $707.27. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year 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:METAGet Free Report) last released 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 return on equity of 39.35% and a net margin of 30.89%.The company had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. During the same quarter in the previous year, the company posted $6.03 earnings per share. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders 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 dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s payout ratio is presently 9.28%.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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