Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Wrapmanager Inc.

Wrapmanager Inc. boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 14.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,050 shares of the social networking company’s stock after acquiring an additional 994 shares during the quarter. Meta Platforms accounts for about 1.2% of Wrapmanager Inc.’s portfolio, making the stock its 20th biggest holding. Wrapmanager Inc.’s holdings in Meta Platforms were worth $4,608,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted its stake in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after purchasing an additional 6,155 shares during the last quarter. Gradient Investments LLC lifted 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 buying an additional 5,953 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its position in 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 during the last quarter. Stanley Laman Group Ltd. raised its holdings in Meta Platforms by 26.5% in 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 last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Meta Platforms by 1.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after purchasing an additional 5,594 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total transaction of $469,740.25. Following the completion of the transaction, the insider now directly owns 39,627 shares in the company, valued at $20,568,394.35. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,843 shares of company stock valued at $92,083,554. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $563.09 on Friday. The stock’s 50-day moving average is $572.05 and its two-hundred day moving average is $523.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released 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. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. 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 is presently 9.42%.

Analyst Ratings Changes

META has been the subject of a number of analyst reports. Oppenheimer upped their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Monness Crespi & Hardt raised their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays boosted their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Tigress Financial lifted their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Finally, Susquehanna increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.