Clarity Financial LLC Boosts Holdings in Meta Platforms, Inc. $META

Clarity Financial LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4,306.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,027 shares of the social networking company’s stock after acquiring an additional 24,459 shares during the period. Meta Platforms comprises approximately 1.8% of Clarity Financial LLC’s portfolio, making the stock its 21st largest position. Clarity Financial LLC’s holdings in Meta Platforms were worth $18,379,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Bare Financial Services Inc purchased a new stake in Meta Platforms in the second quarter valued at approximately $30,000. Evergreen Private Wealth LLC grew 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 acquiring an additional 38 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $42,000. Knuff & Co LLC purchased a new stake in Meta Platforms in the 2nd quarter valued at $44,000. Finally, WFA Asset Management Corp raised its position in Meta Platforms by 42.6% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, Director Robert M. Kimmitt sold 580 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $646.00, for a total transaction of $374,680.00. Following the sale, the director owned 6,167 shares of the company’s stock, valued at $3,983,882. The trade was a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $643.23, for a total value of $333,836.37. Following the completion of the sale, the insider owned 29,696 shares in the company, valued at approximately $19,101,358.08. This represents a 1.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,038 shares of company stock worth $25,675,535 in the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Mizuho lowered their price objective on shares of Meta Platforms from $925.00 to $815.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Royal Bank Of Canada decreased their target price on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. TD Cowen dropped their price target on Meta Platforms from $875.00 to $810.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Citigroup reaffirmed a “buy” rating on shares of Meta Platforms in a research note on Thursday, December 4th. Finally, Wedbush lowered their target price on Meta Platforms from $920.00 to $880.00 and set an “outperform” rating on the stock in a research note on Friday. Four investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $818.59.

Check Out Our Latest Analysis on META

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Stock Up 0.4%

META opened at $661.50 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The business has a 50 day simple moving average of $658.67 and a 200-day simple moving average of $707.27. The stock has a market capitalization of $1.67 trillion, a P/E ratio of 29.22, a P/E/G ratio of 1.38 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data 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. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The firm had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. During the same quarter in the prior year, the company posted $6.03 earnings per share. Meta Platforms’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be paid a $0.525 dividend. The ex-dividend date 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 9.28%.

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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