Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by San Luis Wealth Advisors LLC

San Luis Wealth Advisors LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,543 shares of the social networking company’s stock after buying an additional 28 shares during the period. San Luis Wealth Advisors LLC’s holdings in Meta Platforms were worth $903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares in the last quarter. Jennison Associates LLC grew its position in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Meta Platforms by 57,001.5% in the third 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Meta Platforms by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after buying an additional 208,677 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 3.8 %

NASDAQ META opened at $617.12 on Thursday. Meta Platforms, Inc. has a one year low of $358.61 and a one year high of $638.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The business has a fifty day moving average price of $595.02 and a 200 day moving average price of $554.81. The company has a market cap of $1.56 trillion, a P/E ratio of 29.07, a P/E/G ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 the consensus estimate of $40.21 billion. Research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Upgrades and Downgrades

META has been the topic of several research reports. Raymond James reissued a “strong-buy” rating and issued a $675.00 target price on shares of Meta Platforms in a research report on Monday, November 25th. Wells Fargo & Company raised their price objective on Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America lifted their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group lifted their price objective 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. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the transaction, the chief operating officer now directly owns 11,120 shares in the company, valued at $6,456,828. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 495,682 shares of company stock valued at $301,101,199. 13.71% of the stock is currently owned by insiders.

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.