Acropolis Investment Management LLC Grows Position in Meta Platforms, Inc. $META

Acropolis Investment Management LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 86.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,617 shares of the social networking company’s stock after acquiring an additional 1,214 shares during the quarter. Acropolis Investment Management LLC’s holdings in Meta Platforms were worth $1,931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Channel Wealth LLC lifted its position in shares of Meta Platforms by 6.1% during the 3rd quarter. Channel Wealth LLC now owns 5,618 shares of the social networking company’s stock worth $4,126,000 after purchasing an additional 321 shares during the last quarter. Norway Savings Bank increased its holdings in Meta Platforms by 4.7% in the third quarter. Norway Savings Bank now owns 5,264 shares of the social networking company’s stock valued at $3,866,000 after buying an additional 236 shares during the last quarter. Defined Wealth Management LLC raised its stake in Meta Platforms by 16.6% in the third quarter. Defined Wealth Management LLC now owns 1,074 shares of the social networking company’s stock valued at $789,000 after buying an additional 153 shares in the last quarter. Lynch & Associates IN raised its stake in Meta Platforms by 10.7% in the third quarter. Lynch & Associates IN now owns 3,673 shares of the social networking company’s stock valued at $2,697,000 after buying an additional 356 shares in the last quarter. Finally, StrongBox Wealth LLC lifted its holdings in Meta Platforms by 72.5% during the 3rd quarter. StrongBox Wealth LLC now owns 1,004 shares of the social networking company’s stock worth $737,000 after buying an additional 422 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $664.45 on Friday. The firm’s fifty day simple moving average is $660.69 and its 200-day simple moving average is $707.10. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.36 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98.

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

Meta Platforms Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.28%.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $920.00 price target on shares of Meta Platforms in a report on Thursday, October 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,117.00 price target on shares of Meta Platforms in a research note on Friday, December 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a report on Monday. Finally, Citigroup restated a “buy” rating on shares of Meta Platforms in a report on Thursday, December 4th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $819.46.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 726 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 6,035 shares of the company’s stock, valued at $3,570,306. This represents a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the completion of the transaction, the chief technology officer owned 2,415 shares in the company, valued at $1,432,843.65. This trade represents a 82.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 42,074 shares of company stock worth $26,478,698 over the last three months. 13.61% of the stock is currently owned by company insiders.

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.