Global Assets Advisory LLC Acquires 2,012 Shares of Meta Platforms, Inc. $META

Global Assets Advisory LLC increased its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 41.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 6,837 shares of the social networking company’s stock after buying an additional 2,012 shares during the quarter. Meta Platforms accounts for approximately 1.5% of Global Assets Advisory LLC’s portfolio, making the stock its 14th largest holding. Global Assets Advisory LLC’s holdings in Meta Platforms were worth $5,021,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Bare Financial Services Inc purchased a new position in shares of Meta Platforms during the 2nd quarter valued at $30,000. Briaud Financial Planning Inc purchased a new stake in Meta Platforms in the 2nd quarter worth about $42,000. Knuff & Co LLC bought a new stake in Meta Platforms in the 2nd quarter valued at about $44,000. 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 during the last quarter. Finally, Spurstone Advisory Services LLC purchased a new stake in Meta Platforms during the second quarter valued at about $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $900.00 price target (up previously from $870.00) on shares of Meta Platforms in a research report on Thursday. BNP Paribas Exane initiated coverage on shares of Meta Platforms in a research note on Monday, November 24th. They issued an “outperform” rating and a $800.00 price objective for the company. Redburn Partners set a $900.00 target price on shares of Meta Platforms in a report on Monday, January 26th. UBS Group reaffirmed a “buy” rating and issued a $872.00 price target (up from $830.00) on shares of Meta Platforms in a report on Thursday. Finally, Argus reiterated a “buy” rating and set a $800.00 price objective on shares of Meta Platforms in a research note on Monday. Five analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $848.50.

Get Our Latest Research Report on META

Meta Platforms Stock Down 1.4%

Shares of NASDAQ META opened at $706.41 on Tuesday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.36 and a beta of 1.28. The business has a 50-day moving average of $653.93 and a 200-day moving average of $696.00.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The business had revenue of $59.89 billion for the quarter, compared to the consensus estimate of $58.33 billion. During the same period last year, the firm posted $8.02 earnings per share. Meta Platforms’s quarterly revenue was up 23.8% on a year-over-year basis. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were given a $0.525 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s payout ratio is 8.94%.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 11,690 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the transaction, the chief technology officer directly owned 2,415 shares in the company, valued at approximately $1,432,843.65. This represents a 82.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 6,875 shares of the firm’s stock in a transaction dated Saturday, November 15th. The shares were sold at an average price of $609.46, for a total value of $4,190,037.50. Following the transaction, the chief financial officer directly owned 88,370 shares in the company, valued at approximately $53,857,980.20. This represents a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,077 shares of company stock valued at $23,955,958 over the last quarter. Insiders own 13.61% of the company’s stock.

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Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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