Meta Platforms, Inc. $META Shares Bought by Biltmore Family Office LLC

Biltmore Family Office LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 247.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,537 shares of the social networking company’s stock after purchasing an additional 8,216 shares during the period. Meta Platforms comprises about 1.2% of Biltmore Family Office LLC’s portfolio, making the stock its 11th biggest position. Biltmore Family Office LLC’s holdings in Meta Platforms were worth $8,472,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.8% during the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock worth $142,149,566,000 after acquiring an additional 1,532,568 shares during the period. State Street Corp increased its holdings in Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after purchasing an additional 1,650,435 shares during the period. Geode Capital Management LLC raised its position in Meta Platforms by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 51,575,209 shares of the social networking company’s stock valued at $37,902,948,000 after purchasing an additional 682,768 shares in the last quarter. Norges Bank acquired a new stake in Meta Platforms in the 2nd quarter valued at about $23,155,393,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Meta Platforms by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,489,621 shares of the social networking company’s stock valued at $10,694,644,000 after buying an additional 262,550 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

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Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value 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. The trade was a 82.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 2,610 shares of the stock in a transaction dated Saturday, November 15th. The stock was sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the sale, the chief operating officer owned 9,784 shares of the company’s stock, valued at $5,962,956.64. This trade represents a 21.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 39,077 shares of company stock worth $23,955,958. Corporate insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Meta Platforms from $750.00 to $825.00 and gave the stock an “overweight” rating in a research note on Thursday. Zacks Research downgraded shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Truist Financial lifted their price objective on shares of Meta Platforms from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Evercore ISI boosted their target price on shares of Meta Platforms from $875.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, KeyCorp cut their price target on Meta Platforms from $875.00 to $835.00 and set an “overweight” rating on the stock in a research note on Monday, January 26th. Five research 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 a consensus rating of “Moderate Buy” and an average target price of $848.50.

Check Out Our Latest Analysis on Meta Platforms

Meta Platforms Stock Performance

NASDAQ META opened at $706.41 on Tuesday. The company has a fifty day moving average of $653.93 and a two-hundred day moving average of $696.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a market capitalization of $1.78 trillion, a PE ratio of 30.06, a P/E/G ratio of 1.36 and a beta of 1.28.

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

Meta Platforms Announces Dividend

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

Meta Platforms 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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