49 Wealth Management LLC Has $539,000 Position in Meta Platforms, Inc. (NASDAQ:META)

49 Wealth Management LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 26.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 942 shares of the social networking company’s stock after purchasing an additional 199 shares during the period. 49 Wealth Management LLC’s holdings in Meta Platforms were worth $539,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its stake in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after purchasing an additional 16,138 shares during the period. Cypress Asset Management Inc. TX lifted its holdings in shares of Meta Platforms by 541.8% during the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after buying an additional 3,224 shares during the last quarter. Ascent Group LLC boosted its position in shares of Meta Platforms by 0.6% in the first quarter. Ascent Group LLC now owns 27,652 shares of the social networking company’s stock valued at $13,427,000 after acquiring an additional 178 shares during the period. Waterford Advisors LLC grew its stake in shares of Meta Platforms by 24.8% in the first quarter. Waterford Advisors LLC now owns 956 shares of the social networking company’s stock worth $464,000 after acquiring an additional 190 shares during the last quarter. Finally, Ashford Capital Management Inc. bought a new position in Meta Platforms during the first quarter worth $3,916,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 14,746 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.53, for a total transaction of $8,162,353.38. The disclosure for this sale can be found here. Insiders have sold a total of 168,843 shares of company stock valued at $92,083,554 in the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.7 %

META stock opened at $559.14 on Friday. The business has a fifty day moving average of $572.74 and a 200-day moving average of $524.35. The company has a market cap of $1.41 trillion, a P/E ratio of 26.34, a PEG ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced 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. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

A number of analysts have weighed in on META shares. Sanford C. Bernstein increased 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. Rosenblatt Securities restated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Morgan Stanley raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Oppenheimer lifted their price objective on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Tigress Financial upped their target price on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $634.10.

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.