Biltmore Family Office LLC Has $1.75 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Biltmore Family Office LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,049 shares of the social networking company’s stock after purchasing an additional 104 shares during the period. Biltmore Family Office LLC’s holdings in Meta Platforms were worth $1,745,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. POM Investment Strategies LLC bought a new stake in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. raised its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. bought a new stake in Meta Platforms in the third quarter valued at approximately $46,000. West Financial Advisors LLC bought a new stake in Meta Platforms in the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC raised its stake in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after buying an additional 71 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,141 shares of company stock valued at $83,390,497 in the last ninety days. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on META shares. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Thursday, October 31st. Evercore ISI increased their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Jefferies Financial Group increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus increased their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Guggenheim increased their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Stock Down 0.7 %

Shares of META opened at $559.14 on Monday. The company has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a PEG ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The stock’s 50-day moving average price is $572.74 and its two-hundred day moving average price is $524.71. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its 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 firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

About Meta Platforms

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.