Nwam LLC Has $15.17 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Nwam LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.9% during the third quarter, HoldingsChannel reports. The fund owned 26,497 shares of the social networking company’s stock after purchasing an additional 498 shares during the quarter. Meta Platforms comprises approximately 0.9% of Nwam LLC’s holdings, making the stock its 18th biggest position. Nwam LLC’s holdings in Meta Platforms were worth $15,168,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Meridian Wealth Management LLC increased its position in Meta Platforms by 5.8% during the third quarter. Meridian Wealth Management LLC now owns 26,895 shares of the social networking company’s stock worth $15,396,000 after buying an additional 1,483 shares during the last quarter. Icon Wealth Advisors LLC increased its position in Meta Platforms by 125.7% during the third quarter. Icon Wealth Advisors LLC now owns 13,650 shares of the social networking company’s stock worth $7,814,000 after buying an additional 7,602 shares during the last quarter. GM Advisory Group LLC increased its position in Meta Platforms by 3.1% during the third quarter. GM Advisory Group LLC now owns 14,474 shares of the social networking company’s stock worth $8,285,000 after buying an additional 442 shares during the last quarter. Biltmore Family Office LLC increased its position in Meta Platforms by 3.5% during the third quarter. Biltmore Family Office LLC now owns 3,049 shares of the social networking company’s stock worth $1,745,000 after buying an additional 104 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV acquired a new position in Meta Platforms during the third quarter worth $216,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Jefferies Financial Group upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Roth Mkm upped their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Finally, UBS Group upped their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insiders Place Their Bets

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This represents a 2.34 % decrease in their ownership of the stock. 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 three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Down 0.7 %

META opened at $559.14 on Monday. The stock has a market capitalization of $1.41 trillion, a P/E ratio of 26.34, a P/E/G 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 firm’s fifty day simple moving average is $572.74 and its 200 day simple moving average 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 issued 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. 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 analysts’ expectations of $40.21 billion. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 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.