Meta Platforms, Inc. (NASDAQ:META) is Argonautica Private Wealth Management Inc.’s 9th Largest Position

Argonautica Private Wealth Management Inc. raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,597 shares of the social networking company’s stock after acquiring an additional 143 shares during the quarter. Meta Platforms makes up 2.0% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 9th biggest position. Argonautica Private Wealth Management Inc.’s holdings in Meta Platforms were worth $6,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Gradient Investments LLC increased its stake in shares of Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Stanley Laman Group Ltd. raised its holdings in Meta Platforms by 26.5% during the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after acquiring an additional 352 shares during the period. Cutter & CO Brokerage Inc. lifted its position in shares of Meta Platforms by 0.7% during the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after acquiring an additional 65 shares in the last quarter. Lincoln National Corp boosted its holdings in shares of Meta Platforms by 7.8% in the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after acquiring an additional 2,504 shares during the period. Finally, BCGM Wealth Management LLC grew its position in shares of Meta Platforms by 5.3% in the first quarter. BCGM Wealth Management LLC now owns 1,311 shares of the social networking company’s stock valued at $637,000 after purchasing an additional 66 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Shares of META opened at $572.43 on Wednesday. The company has a 50-day simple moving average of $556.78 and a two-hundred day simple moving average of $513.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization of $1.45 trillion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts anticipate that Meta Platforms, Inc. will post 22.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

Several brokerages have commented on META. JPMorgan Chase & Co. raised their target price on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Scotiabank reduced their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. UBS Group increased their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, TD Securities boosted their target price on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the transaction, the chief executive officer now owns 98,654 shares of the company’s stock, valued at approximately $50,618,380.86. This trade 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 related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $513.09, for a total value of $8,569,629.18. Following the sale, the chief executive officer now owns 98,654 shares in the company, valued at $50,618,380.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, November 1st. The shares were sold at an average price of $567.58, for a total value of $234,410.54. Following the transaction, the chief operating officer now owns 10,294 shares of the company’s stock, valued at $5,842,668.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,919 shares of company stock valued at $129,296,067 in the last three months. Company insiders own 13.71% of the company’s stock.

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.