Boston Family Office LLC Boosts Stake in Meta Platforms, Inc. $META

Boston Family Office LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 23.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,835 shares of the social networking company’s stock after purchasing an additional 907 shares during the period. Boston Family Office LLC’s holdings in Meta Platforms were worth $3,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new position in shares of Meta Platforms during the 2nd quarter worth approximately $30,000. Evergreen Private Wealth LLC grew its stake in Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 38 shares during the period. Briaud Financial Planning Inc purchased a new stake in Meta Platforms in the 2nd quarter worth $42,000. WFA Asset Management Corp lifted its holdings 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 in the last quarter. Finally, Maseco LLP purchased a new position in Meta Platforms during the second quarter valued at $54,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CAO Aaron Anderson sold 726 shares of Meta Platforms stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total transaction of $429,501.60. Following the completion of the sale, the chief accounting officer directly owned 6,035 shares in the company, valued at $3,570,306. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 2,610 shares of the business’s stock in a transaction that occurred on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the completion of the sale, the chief operating officer directly owned 9,784 shares in the company, valued at $5,962,956.64. This trade represents a 21.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,923 shares of company stock valued at $25,887,293 over the last three months. Company insiders own 13.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Meta Platforms from $837.00 to $802.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Jefferies Financial Group decreased their target price on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. BNP Paribas began coverage on Meta Platforms in a research report on Monday, November 24th. They set an “outperform” rating and a $800.00 price target for the company. Raymond James Financial reissued a “strong-buy” rating and issued a $825.00 price objective (down from $900.00) on shares of Meta Platforms in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada lowered their target price on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $819.43.

Meta Platforms Trading Down 1.0%

META opened at $666.80 on Tuesday. The stock has a market capitalization of $1.68 trillion, a PE ratio of 29.45, a P/E/G ratio of 1.41 and a beta of 1.28. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. 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 business’s 50 day moving average price is $671.62 and its 200 day moving average price is $707.23.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter in the previous year, the business earned $6.03 earnings per share. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.