49 Wealth Management LLC Buys 199 Shares of Meta Platforms, Inc. (NASDAQ:META)

49 Wealth Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 26.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. International Assets Investment Management LLC lifted its position in Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in Meta Platforms during the second quarter valued at approximately $595,152,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Meta Platforms by 926.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after purchasing an additional 661,923 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Meta Platforms during the 2nd quarter worth approximately $285,690,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.7 %

NASDAQ META opened at $559.14 on Friday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The business has a fifty day moving average price of $572.74 and a two-hundred day moving average price of $524.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. 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.

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

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued 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 dividend payout ratio (DPR) is presently 9.42%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 620 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the transaction, the chief operating officer now owns 19,992 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total transaction of $469,740.25. Following the sale, the insider now directly owns 39,627 shares in the company, valued at $20,568,394.35. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,843 shares of company stock worth $92,083,554 in the last three months. 13.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Sanford C. Bernstein boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. KeyCorp raised their target price on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Pivotal Research boosted their price target on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.