CreativeOne Wealth LLC Boosts Stock Position in Meta Platforms, Inc. $META

CreativeOne Wealth LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,654 shares of the social networking company’s stock after buying an additional 2,557 shares during the period. Meta Platforms comprises approximately 0.7% of CreativeOne Wealth LLC’s investment portfolio, making the stock its 28th largest holding. CreativeOne Wealth LLC’s holdings in Meta Platforms were worth $27,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. Maripau Wealth Management LLC raised its position in Meta Platforms by 12.6% during the second quarter. Maripau Wealth Management LLC now owns 2,032 shares of the social networking company’s stock worth $1,523,000 after acquiring an additional 227 shares during the period. Longfellow Investment Management Co. LLC acquired a new position in shares of Meta Platforms during the second quarter valued at approximately $3,000,000. Intellus Advisors LLC lifted its position in shares of Meta Platforms by 0.5% in the second quarter. Intellus Advisors LLC now owns 23,558 shares of the social networking company’s stock valued at $17,388,000 after acquiring an additional 112 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Meta Platforms in the second quarter worth approximately $41,677,000. Finally, Waterloo Capital L.P. increased its position in shares of 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 purchasing an additional 2,394 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $639.60 on Thursday. 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 firm has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.36 and a beta of 1.28. The company’s 50-day moving average is $676.31 and its two-hundred day moving average is $706.12. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be given a $0.525 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is currently 9.28%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on META. Bank of America reduced their price objective on Meta Platforms from $900.00 to $810.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Wall Street Zen lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Stifel Nicolaus decreased their price target on shares of Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. KeyCorp lowered their price target on shares of Meta Platforms from $905.00 to $875.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $823.93.

Insiders Place Their Bets

In other news, CAO Aaron Anderson sold 726 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total transaction of $429,501.60. Following the completion of the transaction, the chief accounting officer directly owned 6,035 shares in the company, valued at approximately $3,570,306. This represents a 10.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the completion of the sale, the chief technology officer owned 2,415 shares in the company, valued at approximately $1,432,843.65. This trade 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 quarter, insiders have sold 41,440 shares of company stock worth $26,337,795. Corporate 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.