Meta Platforms, Inc. $META Shares Bought by Clarity Financial LLC

Clarity Financial LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4,306.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 25,027 shares of the social networking company’s stock after acquiring an additional 24,459 shares during the period. Meta Platforms makes up approximately 1.8% of Clarity Financial LLC’s portfolio, making the stock its 21st largest position. Clarity Financial LLC’s holdings in Meta Platforms were worth $18,379,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its position in shares of Meta Platforms by 608,429.2% in the second 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 purchasing an additional 59,766,000 shares during the period. Norges Bank purchased a new stake in Meta Platforms in the 2nd quarter valued at about $23,155,393,000. Laurel Wealth Advisors LLC increased its stake in shares of Meta Platforms by 73,443.1% during the 2nd 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 during the last quarter. State Street Corp lifted its holdings in shares of Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after acquiring an additional 1,650,435 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Meta Platforms by 0.8% in 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 acquiring an additional 1,532,568 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $661.50 on Tuesday. 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, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The company has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.38 and a beta of 1.28. The business has a 50-day moving average of $658.67 and a 200-day moving average of $707.27.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion for 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 revenue was up 26.2% on a year-over-year basis. During the same period last year, the business posted $6.03 EPS. On average, equities analysts anticipate 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. Investors of record on Monday, December 15th will be issued 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 of this dividend is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on META shares. Citigroup reaffirmed a “buy” rating on shares of Meta Platforms in a research report on Thursday, December 4th. Roth Capital restated a “buy” rating on shares of Meta Platforms in a report on Thursday, October 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Meta Platforms in a report on Tuesday, October 14th. UBS Group boosted their price target on Meta Platforms from $900.00 to $915.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald reduced their price objective on Meta Platforms from $830.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $818.59.

View Our Latest Report on META

Insider Activity

In other news, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $646.00, for a total transaction of $333,982.00. Following the transaction, the chief operating officer owned 13,234 shares of the company’s stock, valued at approximately $8,549,164. This trade represents a 3.76% 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, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $643.23, for a total value of $333,836.37. Following the completion of the sale, the insider directly owned 29,696 shares of the company’s stock, valued at approximately $19,101,358.08. This represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 41,038 shares of company stock worth $25,675,535. Corporate insiders own 13.61% of the company’s stock.

Key Stores Impacting Meta Platforms

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.

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

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