Archvest Wealth Advisors Inc. Purchases New Shares in Meta Platforms, Inc. $META

Archvest Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,247 shares of the social networking company’s stock, valued at approximately $916,000. Meta Platforms makes up 0.8% of Archvest Wealth Advisors Inc.’s portfolio, making the stock its 28th largest position.

Several other institutional investors have also recently made changes to their positions in META. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake 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 worth $2,587,000 after buying an additional 13 shares during the last quarter. Hemington Wealth Management grew its stake in Meta Platforms by 0.6% in the 2nd quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock valued at $1,641,000 after purchasing an additional 14 shares during the period. Trust Co of the South grew its stake in Meta Platforms by 0.8% in the 3rd quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock valued at $1,359,000 after purchasing an additional 14 shares during the period. Sentinel Pension Advisors LLC increased its position in shares of Meta Platforms by 1.6% during the 3rd quarter. Sentinel Pension Advisors LLC now owns 915 shares of the social networking company’s stock valued at $672,000 after purchasing an additional 14 shares during the last quarter. Finally, Alpine Bank Wealth Management raised its stake in shares of Meta Platforms by 0.3% during the 3rd quarter. Alpine Bank Wealth Management now owns 4,301 shares of the social networking company’s stock worth $3,159,000 after purchasing an additional 14 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms News Summary

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

Meta Platforms Stock Up 0.1%

Meta Platforms stock opened at $672.97 on Wednesday. The firm has a 50 day simple moving average of $645.06 and a 200 day simple moving average of $696.04. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 1.33 and a beta of 1.29.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its 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 firm had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter in the prior year, the business posted $6.03 earnings per share. The business’s quarterly revenue was up 26.2% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $658.69, for a total value of $341,860.11. Following the completion of the transaction, the insider owned 28,658 shares in the company, valued at $18,876,738.02. This trade represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert M. Kimmitt sold 580 shares of Meta Platforms stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $618.28, for a total value of $358,602.40. Following the transaction, the director directly owned 5,587 shares of the company’s stock, valued at $3,454,330.36. The trade was a 9.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 39,596 shares of company stock valued at $24,277,237. Corporate insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Meta Platforms in a research note on Tuesday, October 14th. Wells Fargo & Company reduced their target price on shares of Meta Platforms from $795.00 to $754.00 and set an “overweight” rating for the company in a research report on Friday. Cantor Fitzgerald lifted their price target on shares of Meta Platforms from $720.00 to $750.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Finally, Benchmark downgraded Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $822.00.

Get Our Latest Stock Analysis on Meta Platforms

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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