Activest Wealth Management Acquires 1,109 Shares of Meta Platforms, Inc. $META

Activest Wealth Management grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,434 shares of the social networking company’s stock after purchasing an additional 1,109 shares during the quarter. Meta Platforms comprises about 2.4% of Activest Wealth Management’s investment portfolio, making the stock its 10th biggest position. Activest Wealth Management’s holdings in Meta Platforms were worth $12,069,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of META. Norges Bank bought a new position in Meta Platforms during the second quarter valued at about $23,155,393,000. Laurel Wealth Advisors LLC grew its holdings 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 worth $6,212,506,000 after purchasing an additional 8,405,558 shares in the last quarter. State Street Corp increased its position in shares of Meta Platforms by 1.9% during the second quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock valued at $64,158,971,000 after purchasing an additional 1,650,435 shares during the period. Vanguard Group Inc. raised its stake 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 valued at $142,149,566,000 after purchasing an additional 1,532,568 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of Meta Platforms by 103.5% in the second quarter. Corient Private Wealth LLC now owns 1,998,624 shares of the social networking company’s stock valued at $1,475,166,000 after purchasing an additional 1,016,667 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on META. Zacks Research lowered shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Rothschild & Co Redburn set a $900.00 target price on shares of Meta Platforms in a research note on Monday, January 26th. Oppenheimer lowered shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, January 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $810.00 price objective on shares of Meta Platforms in a research note on Thursday, January 29th. Four analysts have rated the stock with a Strong Buy rating, forty have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $847.40.

View Our Latest Analysis on Meta Platforms

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $714.60, for a total value of $369,448.20. Following the completion of the sale, the chief operating officer owned 9,615 shares in the company, valued at approximately $6,870,879. This trade represents a 5.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $658.69, for a total transaction of $341,860.11. Following the completion of the transaction, the insider directly owned 28,658 shares of the company’s stock, valued at approximately $18,876,738.02. This represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,594 shares of company stock valued at $24,325,407 in the last 90 days. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Down 1.3%

NASDAQ META opened at $661.46 on Friday. The stock’s 50 day simple moving average is $656.76 and its 200 day simple moving average is $695.12. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The firm has a market cap of $1.67 trillion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The company had revenue of $59.89 billion for the quarter, compared to analyst estimates of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.02 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were given a dividend of $0.525 per share. The ex-dividend date was Monday, December 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio is 8.94%.

Trending Headlines about Meta Platforms

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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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