Narwhal Capital Management Has $28.67 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Narwhal Capital Management raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,077 shares of the social networking company’s stock after acquiring an additional 4,422 shares during the quarter. Meta Platforms comprises 2.6% of Narwhal Capital Management’s portfolio, making the stock its 9th largest position. Narwhal Capital Management’s holdings in Meta Platforms were worth $28,666,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. G&S Capital LLC acquired a new position in Meta Platforms during the first quarter valued at approximately $218,000. Aspiriant LLC boosted its position in shares of Meta Platforms by 13.9% during the first quarter. Aspiriant LLC now owns 13,355 shares of the social networking company’s stock worth $6,485,000 after purchasing an additional 1,633 shares in the last quarter. RFG Holdings Inc. acquired a new position in shares of Meta Platforms in the 1st quarter valued at $512,000. Defined Wealth Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at $240,000. Finally, DGS Capital Management LLC raised its stake in Meta Platforms by 15.7% during the 1st quarter. DGS Capital Management LLC now owns 12,364 shares of the social networking company’s stock worth $6,004,000 after buying an additional 1,681 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several recent analyst reports. Guggenheim increased their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Wedbush reissued an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Piper Sandler boosted their price objective on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Mizuho upped their target price on Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, KeyCorp upped their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $619.20.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $521.48, for a total value of $214,849.76. Following the sale, the chief operating officer now owns 5,147 shares of the company’s stock, valued at approximately $2,684,057.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,817 shares of company stock valued at $132,547,715 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

META stock opened at $567.78 on Friday. The firm has a market cap of $1.44 trillion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $549.53 and a 200-day moving average price of $509.99. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.23 earnings per share. As a group, equities research analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Meta Platforms Company 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.