Beverly Hills Private Wealth LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 10.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,335 shares of the social networking company’s stock after purchasing an additional 1,776 shares during the period. Meta Platforms comprises about 2.1% of Beverly Hills Private Wealth LLC’s investment portfolio, making the stock its 8th biggest position. Beverly Hills Private Wealth LLC’s holdings in Meta Platforms were worth $14,021,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advantage Trust Co bought a new stake in Meta Platforms during the 2nd quarter worth approximately $28,000. Philadelphia Investment Partners LLC bought a new position in shares of Meta Platforms in the second quarter valued at about $32,000. Horizons Wealth Management acquired a new position in Meta Platforms during the 3rd quarter worth about $33,000. Axiom Investment Management LLC bought a new stake in Meta Platforms during the 1st quarter worth about $36,000. Finally, Schuylkill Financial LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at about $36,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Trading Up 2.9%
NASDAQ META opened at $641.69 on Friday. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $779.82. The stock has a 50-day simple moving average of $679.85 and a 200 day simple moving average of $631.72. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.64 trillion, a PE ratio of 21.88, a P/E/G ratio of 1.08 and a beta of 1.28.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.86. The company had revenue of $64.60 billion during the quarter, compared to analyst estimates of $63.34 billion. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the company earned $7.25 EPS. Research analysts forecast that Meta Platforms, Inc. will post 29.01 EPS for the current year.
Meta Platforms Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 21st were issued a dividend of $0.5250 per share. The ex-dividend date was Monday, September 21st. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is currently 7.16%.
Wall Street Analyst Weigh In
META has been the topic of several research analyst reports. DA Davidson increased their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Bank of America boosted their target price on Meta Platforms from $810.00 to $845.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday, August 27th. Citizens Jmp reaffirmed a “market outperform” rating and set a $885.00 price target on shares of Meta Platforms in a research note on Thursday, October 22nd. Finally, CICC Research lowered their price objective on Meta Platforms from $773.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $833.12.
View Our Latest Report on Meta Platforms
Meta Platforms News Summary
Investors following META have been watching these news items:
- Positive Sentiment: ETFs bought about $102.4 million of META shares on Nov. 11, indicating institutional demand that may have helped support the stock. 55 ETFs Add to Meta Platforms (META) on Nov. 11
- Negative Sentiment: A bearish technical analysis says META recently fell below its 200-day moving average, a signal that could encourage caution among momentum-focused investors. As Meta Platforms Continues To Weaken, A Bearish Trade May Be In Order
- Negative Sentiment: Recent coverage has raised concerns about Meta’s $27 billion AI data-center financing arrangement, while a UK regulator fined the company over repeated inaccuracies in WhatsApp Business data. These headlines add financial and regulatory risk to the investment picture. Meta’s $27B Off-Balance-Sheet AI Deal Reminds Steve Eisman of Enron— Joseph Carlson Disagrees Meta fined by UK regulator over repeated inaccuracies in WhatsApp Business data
Insider Activity
In related news, CEO Mark Zuckerberg sold 27,474 shares of the company’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $777.44, for a total value of $21,359,386.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,196 shares of Meta Platforms stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total value of $5,063,409.56. Following the transaction, the chief financial officer owned 13,186 shares in the company, valued at approximately $7,260,343.46. This represents a 41.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 148,846 shares of company stock valued at $101,660,996. 13.42% of the stock is currently owned by company insiders.
About Meta Platforms
Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.
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