WCG Wealth Advisors LLC Has $15.61 Million Stock Holdings in Meta Platforms, Inc. $META

WCG Wealth Advisors LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,142 shares of the social networking company’s stock after purchasing an additional 863 shares during the quarter. Meta Platforms accounts for about 1.0% of WCG Wealth Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. WCG Wealth Advisors LLC’s holdings in Meta Platforms were worth $15,605,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new stake in Meta Platforms during the 2nd quarter worth $30,000. Evergreen Private Wealth LLC grew its stake in Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 38 shares during the period. Briaud Financial Planning Inc bought a new stake in shares of Meta Platforms in the second quarter worth about $42,000. WFA Asset Management Corp raised its position in shares of Meta Platforms by 42.6% during the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after purchasing an additional 20 shares during the period. Finally, Maseco LLP bought a new position in shares of Meta Platforms during the 2nd quarter valued at about $54,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on META shares. Monness Crespi & Hardt lowered their target price on Meta Platforms from $860.00 to $808.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. BNP Paribas started coverage on shares of Meta Platforms in a research report on Monday, November 24th. They set an “outperform” rating and a $800.00 price objective for the company. Benchmark lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, October 30th. Piper Sandler cut their price objective on shares of Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $819.43.

Meta Platforms Stock Down 1.0%

Shares of META stock opened at $666.80 on Tuesday. The firm’s fifty day moving average price is $671.62 and its two-hundred day moving average price is $707.23. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The firm has a market capitalization of $1.68 trillion, a P/E ratio of 29.45, a PEG ratio of 1.41 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating the consensus estimate of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. During the same quarter last year, the company earned $6.03 EPS. Meta Platforms’s revenue for the quarter was up 26.2% compared to the same quarter last year. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 9.28%.

Insider Buying and Selling

In related news, Director Robert M. Kimmitt sold 600 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the transaction, the director directly owned 7,347 shares of the company’s stock, valued at approximately $4,476,894.45. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $639.03, for a total transaction of $330,378.51. Following the sale, the chief operating officer directly owned 14,268 shares in the company, valued at $9,117,680.04. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,923 shares of company stock worth $25,887,293 in the last quarter. 13.61% of the stock is owned by company insiders.

Meta Platforms Company 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.