Meta Platforms, Inc. $META is CW Advisors LLC’s 6th Largest Position

CW Advisors LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 27.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 176,762 shares of the social networking company’s stock after purchasing an additional 38,432 shares during the period. Meta Platforms comprises approximately 1.3% of CW Advisors LLC’s portfolio, making the stock its 6th largest position. CW Advisors LLC’s holdings in Meta Platforms were worth $130,467,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Bare Financial Services Inc purchased a new position in Meta Platforms during the 2nd quarter valued at about $30,000. Evergreen Private Wealth LLC lifted its position in shares of Meta Platforms by 237.5% during the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after purchasing an additional 38 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in shares of Meta Platforms in the second quarter valued at approximately $42,000. WFA Asset Management Corp grew 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 valued at $49,000 after purchasing an additional 20 shares in the last quarter. Finally, Maseco LLP acquired a new position in shares of Meta Platforms in the second quarter valued at approximately $54,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on META shares. TD Cowen reduced their target price on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Meta Platforms in a research note on Monday, December 1st. Wedbush reissued an “outperform” rating and set a $920.00 target price on shares of Meta Platforms in a research note on Thursday, October 30th. Royal Bank Of Canada cut their price target on Meta Platforms from $840.00 to $810.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Finally, Roth Capital reiterated a “buy” rating on shares of Meta Platforms in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $821.63.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $656.96 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. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The firm’s 50 day moving average is $670.07 and its two-hundred day moving average is $707.44. The firm has a market capitalization of $1.66 trillion, a P/E ratio of 29.02, a P/E/G ratio of 1.40 and a beta of 1.28.

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

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total value 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. The trade was a 82.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 726 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 6,035 shares of the company’s stock, valued at $3,570,306. The trade was a 10.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 40,923 shares of company stock valued at $25,887,293. 13.61% of the stock is owned by insiders.

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.