Capital Asset Advisory Services LLC Acquires 1,418 Shares of Meta Platforms, Inc. $META

Capital Asset Advisory Services LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,030 shares of the social networking company’s stock after purchasing an additional 1,418 shares during the period. Capital Asset Advisory Services LLC’s holdings in Meta Platforms were worth $10,303,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of META. Infusive Asset Management Inc. increased its holdings in shares of Meta Platforms by 10.7% during the 1st quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock worth $13,614,000 after purchasing an additional 2,285 shares during the period. Spirepoint Private Client LLC grew its position in Meta Platforms by 2.7% during the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after buying an additional 109 shares in the last quarter. Diversify Advisory Services LLC increased its stake in Meta Platforms by 10.4% during the second quarter. Diversify Advisory Services LLC now owns 55,431 shares of the social networking company’s stock valued at $43,790,000 after acquiring an additional 5,224 shares during the period. CW Advisors LLC lifted its position in shares of Meta Platforms by 27.8% in the 2nd quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock worth $130,467,000 after acquiring an additional 38,432 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Meta Platforms by 11.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock worth $155,387,000 after acquiring an additional 20,912 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of the 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 726 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total transaction of $429,501.60. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 40,458 shares of company stock worth $25,436,200 over the last ninety days. Company insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $657.15 on Wednesday. The stock has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.36 and a beta of 1.28. The firm’s 50-day moving average price is $663.44 and its two-hundred day moving average price is $707.81. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25.

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 company 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%. 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 earnings per share. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a $0.525 dividend. The ex-dividend date of this dividend 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 Analyst Weigh In

A number of brokerages recently commented on META. Citizens Jmp restated an “outperform” rating and issued a $900.00 target price (up from $750.00) on shares of Meta Platforms in a research note on Monday, November 24th. Raymond James Financial reissued a “strong-buy” rating and issued a $825.00 price target (down previously from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. TD Cowen reduced their price objective on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Wells Fargo & Company lowered their target price on shares of Meta Platforms from $837.00 to $802.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, KeyCorp dropped their price target on shares of Meta Platforms from $905.00 to $875.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $819.46.

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.