Global Retirement Partners LLC Makes New Investment in Meta Platforms, Inc. $META

Global Retirement Partners LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 56,467 shares of the social networking company’s stock, valued at approximately $41,677,000. Meta Platforms comprises about 1.0% of Global Retirement Partners LLC’s investment portfolio, making the stock its 12th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in META. Waterloo Capital L.P. lifted its position in Meta Platforms by 24.5% during the second quarter. Waterloo Capital L.P. now owns 12,174 shares of the social networking company’s stock worth $8,986,000 after buying an additional 2,394 shares during the period. Prudential Financial Inc. increased its stake in shares of Meta Platforms by 5.7% during the 2nd quarter. Prudential Financial Inc. now owns 2,314,762 shares of the social networking company’s stock valued at $1,708,503,000 after acquiring an additional 123,993 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Meta Platforms by 5.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 68,854 shares of the social networking company’s stock worth $50,820,000 after acquiring an additional 3,734 shares during the period. Pring Turner Capital Group Inc. lifted its holdings in shares of Meta Platforms by 3.1% during the 2nd quarter. Pring Turner Capital Group Inc. now owns 2,303 shares of the social networking company’s stock worth $1,700,000 after acquiring an additional 70 shares during the period. Finally, Left Brain Wealth Management LLC boosted its position in shares of Meta Platforms by 2.1% in the second quarter. Left Brain Wealth Management LLC now owns 23,237 shares of the social networking company’s stock worth $17,151,000 after acquiring an additional 480 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on META shares. Citigroup dropped their price target on shares of Meta Platforms from $915.00 to $850.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Zacks Research downgraded Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. BNP Paribas Exane initiated coverage on Meta Platforms in a research report on Monday, November 24th. They issued an “outperform” rating and a $800.00 target price on the stock. Cantor Fitzgerald lowered their price target on Meta Platforms from $830.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Finally, Jefferies Financial Group dropped their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $823.93.

Insider Activity at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 726 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total value of $429,501.60. Following the transaction, the chief accounting officer owned 6,035 shares in the company, valued at $3,570,306. The trade was a 10.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the sale, the chief technology officer owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 40,923 shares of company stock valued at $26,007,416. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 1.0%

Shares of META opened at $647.10 on Wednesday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The stock’s 50-day moving average is $678.73 and its two-hundred day moving average is $706.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market cap of $1.63 trillion, a PE ratio of 28.58, a P/E/G ratio of 1.34 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last posted its earnings results 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. The business had revenue of $51.24 billion during the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter last year, the firm earned $6.03 earnings per share. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.525 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.28%.

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.