Meta Platforms, Inc. $META Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 61,295 shares of the social networking company’s stock after purchasing an additional 955 shares during the period. Miracle Mile Advisors LLC’s holdings in Meta Platforms were worth $45,014,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in META. Brighton Jones LLC raised its stake in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Meta Platforms by 10.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after purchasing an additional 875 shares during the period. Headwater Capital Co Ltd raised its stake in shares of Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after purchasing an additional 112,000 shares during the last quarter. Raab & Moskowitz Asset Management LLC lifted its holdings in shares of Meta Platforms by 16.9% during the first quarter. Raab & Moskowitz Asset Management LLC now owns 700 shares of the social networking company’s stock worth $403,000 after purchasing an additional 101 shares during the period. Finally, Redwood Investments LLC acquired a new stake in shares of Meta Platforms during the first quarter worth $395,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Susan J. Li sold 6,875 shares of the firm’s stock in a transaction that occurred on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the completion of the transaction, the chief financial officer directly owned 88,370 shares of the company’s stock, valued at $53,857,980.20. This trade represents a 7.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Aaron Anderson sold 726 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 41,038 shares of company stock worth $25,533,240 in the last three months. Company insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on META shares. Benchmark cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, October 30th. Barclays dropped their price target on shares of Meta Platforms from $810.00 to $770.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Piper Sandler reduced their price objective on shares of Meta Platforms from $880.00 to $840.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Mizuho dropped their target price on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Finally, Morgan Stanley reduced their price target on Meta Platforms from $820.00 to $750.00 and set an “overweight” rating for the company in a report on Thursday, December 11th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and seven have assigned 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 target price of $822.22.

Meta Platforms Stock Performance

META opened at $658.79 on Tuesday. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The stock has a market cap of $1.66 trillion, a P/E ratio of 29.10, a P/E/G ratio of 1.29 and a beta of 1.29. The stock’s 50 day simple moving average is $645.45 and its 200 day simple moving average is $704.88. 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 posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 39.35% and a net margin of 30.89%.Meta Platforms’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.03 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

About Meta Platforms

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.