Coldstream Capital Management Inc. Raises Stake in Meta Platforms, Inc. $META

Coldstream Capital Management Inc. boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,854 shares of the social networking company’s stock after purchasing an additional 3,734 shares during the quarter. Meta Platforms makes up 0.8% of Coldstream Capital Management Inc.’s investment portfolio, making the stock its 25th largest position. Coldstream Capital Management Inc.’s holdings in Meta Platforms were worth $50,820,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Evergreen Private Wealth LLC increased its holdings in Meta Platforms by 237.5% during the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after acquiring an additional 38 shares during the period. Briaud Financial Planning Inc purchased a new position in shares of Meta Platforms during the 2nd quarter valued at $42,000. WFA Asset Management Corp increased its holdings in shares of Meta Platforms by 42.6% in 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. Maseco LLP purchased a new stake in shares of Meta Platforms in the second quarter worth $54,000. Finally, eCIO Inc. bought a new stake in Meta Platforms during the first quarter valued at $58,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on META. Erste Group Bank lowered Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Meta Platforms in a research note on Tuesday, October 14th. TD Cowen cut their price target on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $870.00 price objective (down from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. Finally, Monness Crespi & Hardt cut their target price on shares of Meta Platforms from $860.00 to $808.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $823.93.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $647.10 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.63 trillion, a PE ratio of 28.58, a PEG ratio of 1.34 and a beta of 1.28. The company’s fifty day moving average is $678.73 and its 200 day moving average is $706.59. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25.

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

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms’s payout ratio is 9.28%.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $598.54, for a total transaction of $309,445.18. Following the completion of the sale, the chief operating officer owned 14,785 shares of the company’s stock, valued at approximately $8,849,413.90. This represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert M. Kimmitt sold 600 shares of Meta Platforms stock in a transaction on Monday, November 17th. The stock was sold at an average price of $609.35, for a total transaction of $365,610.00. Following the completion of the transaction, the director directly owned 7,347 shares in the company, valued at approximately $4,476,894.45. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 40,923 shares of company stock valued at $26,007,416. Insiders own 13.61% of the company’s stock.

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.