Savvy Advisors Inc. Boosts Holdings in Meta Platforms, Inc. $META

Savvy Advisors Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,663 shares of the social networking company’s stock after buying an additional 1,300 shares during the period. Savvy Advisors Inc.’s holdings in Meta Platforms were worth $13,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bare Financial Services Inc purchased a new position in Meta Platforms during the second quarter valued at approximately $30,000. Briaud Financial Planning Inc bought a new stake in shares of Meta Platforms during the 2nd quarter valued at $42,000. Knuff & Co LLC purchased a new position in shares of Meta Platforms during the 2nd quarter valued at $44,000. WFA Asset Management Corp lifted its stake in shares of Meta Platforms by 42.6% during the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after buying an additional 20 shares in the last quarter. Finally, Spurstone Advisory Services LLC bought a new position in Meta Platforms in the 2nd quarter worth $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $643.22 on Thursday. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The firm has a market capitalization of $1.63 trillion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 1.09 and a beta of 1.28. The company has a fifty day simple moving average of $656.60 and a two-hundred day simple moving average of $691.28. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.16 by $0.72. The firm had revenue of $59.89 billion for the quarter, compared to analysts’ expectations of $58.33 billion. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company earned $8.02 EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be 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 is Monday, March 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.94%.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 2,461 shares of Meta Platforms stock in a transaction on Sunday, February 15th. The shares were sold at an average price of $639.77, for a total transaction of $1,574,473.97. Following the completion of the transaction, the chief operating officer directly owned 12,108 shares of the company’s stock, valued at $7,746,335.16. The trade was a 16.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $624.14, for a total transaction of $323,928.66. Following the transaction, the insider owned 31,253 shares in the company, valued at $19,506,247.42. This trade represents a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,158 shares of company stock worth $12,992,197 in the last 90 days. Company insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. KeyCorp decreased their price target on Meta Platforms from $875.00 to $835.00 and set an “overweight” rating on the stock in a report on Monday, January 26th. Jefferies Financial Group lifted their target price on Meta Platforms from $910.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Wolfe Research restated an “outperform” rating and issued a $850.00 price target (up from $800.00) on shares of Meta Platforms in a research note on Thursday, January 29th. Raymond James Financial cut their price objective on shares of Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating for the company in a report on Monday, January 26th. Finally, Pivotal Research lowered their target price on shares of Meta Platforms from $930.00 to $910.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Three investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $844.29.

Check Out Our Latest Stock Report on Meta Platforms

Key Meta Platforms News

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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.

Further Reading

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

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