Meta Platforms, Inc. (NASDAQ:META) Holdings Lifted by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,766 shares of the social networking company’s stock after purchasing an additional 2,588 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Meta Platforms were worth $23,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% during 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 in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter worth about $46,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth about $49,000. Finally, NewSquare Capital LLC grew its holdings in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on META shares. Oppenheimer boosted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, Bank of America boosted their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 620 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the transaction, the chief operating officer now owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,141 shares of company stock worth $83,390,497. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $559.14 on Monday. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The stock 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. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock’s fifty day moving average is $572.74 and its 200-day moving average is $524.71.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Equities research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared 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 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.