Iams Wealth Management LLC Has $2.92 Million Stock Position in Meta Platforms, Inc. $META

Iams Wealth Management LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 60.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,976 shares of the social networking company’s stock after acquiring an additional 1,502 shares during the period. Meta Platforms comprises 1.2% of Iams Wealth Management LLC’s investment portfolio, making the stock its 18th biggest holding. Iams Wealth Management LLC’s holdings in Meta Platforms were worth $2,920,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bare Financial Services Inc bought a new position in shares of Meta Platforms in the second quarter valued at approximately $30,000. Evergreen Private Wealth LLC grew its stake in shares of Meta Platforms by 237.5% in the 2nd 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 in the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Meta Platforms in the second quarter valued at about $42,000. Knuff & Co LLC bought a new position in shares of Meta Platforms during the second quarter valued at about $44,000. Finally, WFA Asset Management Corp boosted its holdings in Meta Platforms by 42.6% during the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, CAO Aaron Anderson sold 726 shares of Meta Platforms stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the transaction, the chief accounting officer directly owned 6,035 shares in the company, valued at approximately $3,570,306. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert M. Kimmitt sold 600 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the sale, the director owned 7,347 shares in the company, valued at approximately $4,476,894.45. The trade was a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,557 shares of company stock worth $25,972,459 in the last 90 days. 13.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

META has been the subject of several analyst reports. Robert W. Baird decreased their price objective on shares of Meta Platforms from $820.00 to $815.00 and set an “outperform” rating for the company in a research note on Tuesday, December 23rd. Wedbush reduced their target price on Meta Platforms from $920.00 to $880.00 and set an “outperform” rating for the company in a report on Friday, December 19th. KeyCorp dropped their price target on Meta Platforms from $905.00 to $875.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Cantor Fitzgerald reduced their price objective on Meta Platforms from $830.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday, November 19th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $825.00 target price (down from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. Four investment 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 company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $820.22.

Get Our Latest Stock Report on META

Meta Platforms Stock Down 0.6%

Shares of NASDAQ META opened at $663.29 on Monday. 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 stock has a market capitalization of $1.67 trillion, a PE ratio of 29.30, a P/E/G ratio of 1.37 and a beta of 1.28. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The business’s fifty day moving average price is $654.81 and its 200-day moving average price is $706.38.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the business posted $6.03 EPS. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Meta Platforms’s dividend payout ratio is presently 9.28%.

More Meta Platforms News

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

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.

Further Reading

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.