Corient Private Wealth LLC Has $1.48 Billion Stake in Meta Platforms, Inc. $META

Corient Private Wealth LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 103.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,998,624 shares of the social networking company’s stock after buying an additional 1,016,667 shares during the period. Meta Platforms makes up 2.1% of Corient Private Wealth LLC’s investment portfolio, making the stock its 5th biggest holding. Corient Private Wealth LLC owned approximately 0.08% of Meta Platforms worth $1,475,166,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in META. Bare Financial Services Inc bought a new position in Meta Platforms in the 2nd quarter worth about $30,000. Evergreen Private Wealth LLC increased 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 valued at $40,000 after buying an additional 38 shares during the period. Briaud Financial Planning Inc bought a new stake in shares of Meta Platforms during the second quarter valued at about $42,000. Knuff & Co LLC purchased a new stake in shares of Meta Platforms in the second quarter worth about $44,000. Finally, WFA Asset Management Corp boosted its position 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 acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Meta Platforms from $820.00 to $750.00 and set an “overweight” rating on the stock in a report on Thursday. Sanford C. Bernstein restated an “outperform” rating and set a $870.00 price target (down from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. JPMorgan Chase & Co. lowered their price objective on Meta Platforms from $875.00 to $800.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Wells Fargo & Company reduced their target price on Meta Platforms from $837.00 to $802.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Finally, KeyCorp decreased their target price on Meta Platforms from $905.00 to $875.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $819.46.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of the company’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 directly owned 2,415 shares in the company, valued at $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $664.16, for a total value of $344,699.04. Following the transaction, the insider directly owned 30,215 shares in the company, valued at $20,067,594.40. This trade represents a 1.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 40,458 shares of company stock worth $25,436,200 over the last 90 days. Company insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

META opened at $647.51 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.63 trillion, a P/E ratio of 28.60, a PEG ratio of 1.35 and a beta of 1.28. The stock has a 50-day moving average price of $664.55 and a 200-day moving average price of $707.70. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25.

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

Meta Platforms Announces Dividend

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