Boston Family Office LLC Grows Position in Meta Platforms, Inc. $META

Boston Family Office LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 23.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,835 shares of the social networking company’s stock after acquiring an additional 907 shares during the period. Boston Family Office LLC’s holdings in Meta Platforms were worth $3,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of META. Vanguard Group Inc. raised its stake in Meta Platforms by 0.8% in the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock worth $142,149,566,000 after buying an additional 1,532,568 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its position in shares of Meta Platforms by 608,429.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after acquiring an additional 59,766,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Meta Platforms by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 51,575,209 shares of the social networking company’s stock worth $37,902,948,000 after purchasing an additional 682,768 shares during the last quarter. Norges Bank bought a new stake in Meta Platforms during the second quarter valued at about $23,155,393,000. Finally, Invesco Ltd. grew its stake in Meta Platforms by 2.3% in the first quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company’s stock valued at $10,184,163,000 after purchasing an additional 400,927 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CAO Aaron Anderson sold 726 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the transaction, the chief accounting officer owned 6,035 shares of the company’s stock, 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, Director Robert M. Kimmitt sold 600 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the sale, the director directly owned 7,347 shares in the company, valued at approximately $4,476,894.45. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,923 shares of company stock valued at $25,887,293 over the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group increased their price target on shares of Meta Platforms from $900.00 to $915.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Piper Sandler decreased their target price on shares of Meta Platforms from $880.00 to $840.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Zacks Research lowered shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Mizuho decreased their price objective on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Finally, Royal Bank Of Canada lowered their price objective on Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $819.43.

Meta Platforms Trading Down 1.0%

Meta Platforms stock opened at $666.80 on Tuesday. The stock has a 50-day moving average price of $671.62 and a 200 day moving average price of $707.23. The company has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter in the prior year, the company earned $6.03 EPS. Meta Platforms’s quarterly revenue was up 26.2% on a year-over-year basis. Sell-side analysts anticipate 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. Investors of record on Monday, December 15th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.

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.