WESPAC Advisors SoCal LLC Has $2.01 Million Position in Meta Platforms, Inc. (NASDAQ:META)

WESPAC Advisors SoCal LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,517 shares of the social networking company’s stock after purchasing an additional 140 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Meta Platforms were worth $2,013,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Meta Platforms by 48.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after buying an additional 16,138 shares during the last quarter. Empowered Funds LLC raised its holdings in Meta Platforms by 22.4% during the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock worth $32,629,000 after purchasing an additional 12,301 shares during the last quarter. Cypress Asset Management Inc. TX lifted its position in shares of Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after purchasing an additional 3,224 shares during the period. Evolutionary Tree Capital Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at $2,607,000. Finally, Point Break Capital Management LLC acquired a new stake in shares of Meta Platforms during the first quarter worth $2,481,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 1.2 %

Meta Platforms stock opened at $561.09 on Wednesday. The firm has a 50 day moving average price of $570.23 and a 200-day moving average price of $522.73. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a market capitalization of $1.42 trillion, a P/E ratio of 26.43, a P/E/G ratio of 1.23 and a beta of 1.22.

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

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on META shares. Raymond James boosted their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. BMO Capital Markets boosted their price objective on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Susquehanna raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 14,746 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.53, for a total transaction of $8,162,353.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,958 shares of company stock worth $101,181,747. Company insiders own 13.71% of the company’s stock.

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.