Iams Wealth Management LLC Boosts Holdings in Meta Platforms, Inc. $META

Iams Wealth Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 60.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,976 shares of the social networking company’s stock after purchasing an additional 1,502 shares during the period. Meta Platforms makes up 1.2% of Iams Wealth Management LLC’s portfolio, making the stock its 18th biggest holding. Iams Wealth Management LLC’s holdings in Meta Platforms were worth $2,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bare Financial Services Inc bought a new position in Meta Platforms in the 2nd quarter worth about $30,000. Evergreen Private Wealth LLC grew its holdings in shares of Meta Platforms by 237.5% during the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after purchasing an additional 38 shares in the last quarter. Briaud Financial Planning Inc bought a new position in shares of Meta Platforms in the second quarter worth approximately $42,000. Knuff & Co LLC purchased a new stake in Meta Platforms in the second quarter valued at approximately $44,000. Finally, WFA Asset Management Corp lifted its position in Meta Platforms by 42.6% during the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 580 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $646.00, for a total transaction of $374,680.00. Following the completion of the sale, the director owned 6,167 shares of the company’s stock, valued at $3,983,882. This represents a 8.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $659.38, for a total transaction of $342,218.22. Following the completion of the sale, the insider directly owned 29,177 shares in the company, valued at approximately $19,238,730.26. This trade represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 41,557 shares of company stock worth $25,972,459 in the last three months. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Down 0.6%

META opened at $663.29 on Monday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $654.81 and its 200-day moving average price is $706.38. The company has a market cap of $1.67 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.37 and a beta of 1.28.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results 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. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. During the same period last year, the company earned $6.03 EPS. Meta Platforms’s revenue for the quarter was up 26.2% compared to the same quarter last year. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

More Meta Platforms News

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $1,117.00 price target on shares of Meta Platforms in a report on Friday, December 5th. BNP Paribas Exane started coverage on shares of Meta Platforms in a research report on Monday, November 24th. They issued an “outperform” rating and a $800.00 target price for the company. Barclays lowered their price target on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. DA Davidson set a $825.00 price target on Meta Platforms in a research note on Thursday, October 30th. Finally, Wells Fargo & Company reduced their price objective on Meta Platforms from $837.00 to $802.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $820.22.

Get Our Latest Analysis on META

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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