Meta Platforms, Inc. $META Shares Bought by Straight Path Wealth Management

Straight Path Wealth Management increased its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7,935.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,500 shares of the social networking company’s stock after acquiring an additional 39,996 shares during the period. Meta Platforms makes up 7.2% of Straight Path Wealth Management’s portfolio, making the stock its 4th biggest position. Straight Path Wealth Management’s holdings in Meta Platforms were worth $29,742,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of META. Goldstone Financial Group LLC grew its position in Meta Platforms by 44.4% in the 3rd quarter. Goldstone Financial Group LLC now owns 3,752 shares of the social networking company’s stock valued at $2,756,000 after buying an additional 1,153 shares in the last quarter. CW Advisors LLC raised its position in shares of Meta Platforms by 27.8% during the 2nd quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock worth $130,467,000 after buying an additional 38,432 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Meta Platforms by 11.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock worth $155,387,000 after acquiring an additional 20,912 shares during the period. Stephens Inc. AR boosted its holdings in shares of Meta Platforms by 5.6% in the second quarter. Stephens Inc. AR now owns 84,687 shares of the social networking company’s stock valued at $62,507,000 after acquiring an additional 4,473 shares in the last quarter. Finally, Motiv8 Investments LLC increased its stake in shares of Meta Platforms by 11.5% during the second quarter. Motiv8 Investments LLC now owns 2,080 shares of the social networking company’s stock valued at $1,535,000 after acquiring an additional 214 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Argus restated a “buy” rating and issued a $800.00 target price on shares of Meta Platforms in a research report on Monday. BNP Paribas Exane began coverage on Meta Platforms in a research note on Monday, November 24th. They issued an “outperform” rating and a $800.00 price objective on the stock. Piper Sandler raised their target price on Meta Platforms from $840.00 to $880.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Bank of America lifted their target price on Meta Platforms from $810.00 to $885.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Arete Research set a $718.00 price target on shares of Meta Platforms in a report on Thursday, December 4th. Five research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $848.50.

Read Our Latest Report on Meta Platforms

Meta Platforms Price Performance

NASDAQ META opened at $668.99 on Thursday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a market cap of $1.69 trillion, a PE ratio of 28.47, a PEG ratio of 1.18 and a beta of 1.28. The stock’s 50-day moving average price is $655.74 and its two-hundred day moving average price is $695.72.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, topping the consensus estimate of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The business had revenue of $59.89 billion for the quarter, compared to the consensus estimate of $58.33 billion. During the same period last year, the firm posted $8.02 earnings per share. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Meta Platforms’s payout ratio is 8.94%.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Insider Activity

In related news, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $714.60, for a total value of $369,448.20. Following the completion of the sale, the chief operating officer directly owned 9,615 shares of the company’s stock, valued at approximately $6,870,879. This represents a 5.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $658.69, for a total value of $341,860.11. Following the transaction, the insider directly owned 28,658 shares in the company, valued at approximately $18,876,738.02. This trade represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,594 shares of company stock worth $24,325,407 over the last quarter. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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