Arkadios Wealth Advisors Increases Stake in Meta Platforms, Inc. $META

Arkadios Wealth Advisors raised its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 9.8% in the third quarter, HoldingsChannel reports. The fund owned 48,051 shares of the social networking company’s stock after purchasing an additional 4,288 shares during the period. Meta Platforms accounts for approximately 0.8% of Arkadios Wealth Advisors’ investment portfolio, making the stock its 11th largest holding. Arkadios Wealth Advisors’ holdings in Meta Platforms were worth $35,288,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC grew its stake in shares of Meta Platforms by 19.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 26,397 shares of the social networking company’s stock worth $19,386,000 after purchasing an additional 4,212 shares during the period. Nordwand Advisors LLC boosted its holdings in Meta Platforms by 47.7% during the third quarter. Nordwand Advisors LLC now owns 3,169 shares of the social networking company’s stock worth $2,327,000 after buying an additional 1,023 shares in the last quarter. Game Plan Financial Advisors LLC boosted its holdings in Meta Platforms by 79.6% during the third quarter. Game Plan Financial Advisors LLC now owns 264 shares of the social networking company’s stock worth $194,000 after buying an additional 117 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC grew its position in Meta Platforms by 34.3% during the third quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 536 shares of the social networking company’s stock valued at $402,000 after buying an additional 137 shares during the period. Finally, Verdence Capital Advisors LLC increased its holdings in Meta Platforms by 4.1% in the third quarter. Verdence Capital Advisors LLC now owns 24,346 shares of the social networking company’s stock valued at $18,279,000 after buying an additional 967 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Key Headlines Impacting Meta Platforms

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

Meta Platforms Stock Performance

NASDAQ META opened at $672.97 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The stock’s fifty day moving average is $645.06 and its two-hundred day moving average is $696.04. The firm has a market capitalization of $1.70 trillion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.03 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. Citigroup reissued a “buy” rating on shares of Meta Platforms in a research note on Thursday, December 4th. Roth Mkm reduced their price target on Meta Platforms from $845.00 to $800.00 and set a “buy” rating for the company in a report on Monday. KeyCorp lowered their price target on Meta Platforms from $875.00 to $835.00 and set an “overweight” rating on the stock in a research report on Monday. Stifel Nicolaus cut their price objective on Meta Platforms from $875.00 to $785.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Finally, Erste Group Bank downgraded Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $822.00.

Check Out Our Latest Report on Meta Platforms

Insider Buying and Selling

In related news, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the transaction, the director directly owned 7,347 shares in the company, valued at approximately $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 6,875 shares of the firm’s stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $4,190,037.50. Following the sale, the chief financial officer directly owned 88,370 shares of the company’s stock, valued at approximately $53,857,980.20. This trade represents a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 39,596 shares of company stock worth $24,277,237 over the last ninety days. 13.61% of the stock is currently owned by insiders.

About Meta Platforms

(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.

Read More

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.