Meta Platforms, Inc. $META Stake Boosted by Milestone Asset Management LLC

Milestone Asset Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 38.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,247 shares of the social networking company’s stock after acquiring an additional 2,270 shares during the quarter. Meta Platforms makes up 1.1% of Milestone Asset Management LLC’s portfolio, making the stock its 16th biggest holding. Milestone Asset Management LLC’s holdings in Meta Platforms were worth $6,057,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. DA Davidson set a $825.00 price objective on shares of Meta Platforms in a research note on Thursday, October 30th. UBS Group boosted their price target on Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wedbush lowered their price objective on Meta Platforms from $920.00 to $880.00 and set an “outperform” rating on the stock in a report on Friday, December 19th. Barclays reduced their target price on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Cantor Fitzgerald decreased their target price on Meta Platforms from $830.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Four equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $820.22.

Get Our Latest Stock Report on Meta Platforms

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $663.29 on Monday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The company has a market cap of $1.67 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.37 and a beta of 1.28. The business’s 50 day moving average is $654.81 and its two-hundred day moving average is $706.38. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.

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, topping the consensus estimate of $6.74 by $0.51. The business 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 quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter last year, the company posted $6.03 earnings per share. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was 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 is currently 9.28%.

Meta Platforms News Roundup

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

Insider Activity at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 580 shares of the firm’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 value of $374,680.00. Following the completion of the sale, the director owned 6,167 shares in the company, valued at approximately $3,983,882. This trade represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $661.11, for a total value of $341,793.87. Following the sale, the chief operating officer directly owned 12,717 shares in the company, valued at $8,407,335.87. The trade was a 3.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 41,557 shares of company stock worth $25,972,459. Company insiders own 13.61% of the company’s stock.

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

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

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