Mayflower Financial Advisors LLC Has $3.90 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Mayflower Financial Advisors LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,816 shares of the social networking company’s stock after selling 33 shares during the period. Mayflower Financial Advisors LLC’s holdings in Meta Platforms were worth $3,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after acquiring an additional 16,138 shares during the last quarter. Empowered Funds LLC boosted its position in Meta Platforms by 22.4% during the first quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock valued at $32,629,000 after acquiring an additional 12,301 shares during the last quarter. Cypress Asset Management Inc. TX boosted its stake in Meta Platforms by 541.8% during the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after acquiring an additional 3,224 shares in the last quarter. QRG Capital Management Inc. grew its stake in Meta Platforms by 5.5% in the first quarter. QRG Capital Management Inc. now owns 381,805 shares of the social networking company’s stock valued at $185,397,000 after acquiring an additional 19,886 shares during the period. Finally, Roffman Miller Associates Inc. PA boosted its stake in Meta Platforms by 1.3% during the 1st quarter. Roffman Miller Associates Inc. PA now owns 5,418 shares of the social networking company’s stock valued at $2,631,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on META. Susquehanna increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Wells Fargo & Company reduced their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Barclays lifted their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. UBS Group boosted their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Citigroup boosted their price objective on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $529.09, for a total value of $8,836,861.18. Following the transaction, the chief executive officer now owns 55,019 shares of the company’s stock, valued at approximately $29,110,002.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the sale, the insider now directly owns 338,662 shares in the company, valued at $188,810,838.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $529.09, for a total value of $8,836,861.18. Following the completion of the transaction, the chief executive officer now owns 55,019 shares of the company’s stock, valued at $29,110,002.71. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,807 shares of company stock valued at $93,851,617. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Down 0.8 %

Shares of NASDAQ META opened at $580.00 on Thursday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $564.48 and its two-hundred day moving average is $518.29. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.29 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Research analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 9.42%.

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.