Archvest Wealth Advisors Inc. Takes Position in Meta Platforms, Inc. $META

Archvest Wealth Advisors Inc. purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,247 shares of the social networking company’s stock, valued at approximately $916,000. Meta Platforms accounts for 0.8% of Archvest Wealth Advisors Inc.’s investment portfolio, making the stock its 28th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of META. Sterling Investment Advisors LLC ADV acquired a new position in Meta Platforms during the 3rd quarter worth about $377,000. Glass Jacobson Investment Advisors llc increased its stake in shares of Meta Platforms by 2.9% in the third quarter. Glass Jacobson Investment Advisors llc now owns 568 shares of the social networking company’s stock valued at $417,000 after buying an additional 16 shares during the period. Florida Trust Wealth Management Co raised its position in shares of Meta Platforms by 6.7% during the third quarter. Florida Trust Wealth Management Co now owns 41,676 shares of the social networking company’s stock worth $30,606,000 after acquiring an additional 2,603 shares during the last quarter. Capital Advisory Group Advisory Services LLC raised its position in shares of Meta Platforms by 2.6% during the third quarter. Capital Advisory Group Advisory Services LLC now owns 5,030 shares of the social networking company’s stock worth $3,694,000 after acquiring an additional 128 shares during the last quarter. Finally, Quantum Portfolio Management LLC lifted its stake in shares of Meta Platforms by 50.7% in the third quarter. Quantum Portfolio Management LLC now owns 6,020 shares of the social networking company’s stock worth $4,421,000 after acquiring an additional 2,024 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on META shares. Redburn Partners set a $900.00 target price on shares of Meta Platforms in a research report on Monday. Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Bank of America dropped their target price on shares of Meta Platforms from $900.00 to $810.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. DA Davidson set a $825.00 price target on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $910.00 price target on shares of Meta Platforms in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $822.00.

Get Our Latest Report on Meta Platforms

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 6,875 shares of the firm’s stock in a transaction on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total value of $4,190,037.50. Following the transaction, the chief financial officer directly owned 88,370 shares of the company’s stock, valued at approximately $53,857,980.20. This trade represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Aaron Anderson sold 726 shares of Meta Platforms stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total transaction of $429,501.60. Following the transaction, the chief accounting officer owned 6,035 shares of the company’s stock, valued at $3,570,306. This represents a 10.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 39,596 shares of company stock valued at $24,277,237. 13.61% of the stock is currently owned by insiders.

Meta Platforms News Roundup

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

Meta Platforms Stock Up 0.1%

Shares of NASDAQ:META opened at $672.97 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The business’s 50 day simple moving average is $645.06 and its two-hundred day simple moving average is $696.04. The firm has a market cap of $1.70 trillion, a P/E ratio of 29.72, a PEG ratio of 1.33 and a beta of 1.29.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter in the previous year, the company posted $6.03 earnings per share. The company’s quarterly revenue was up 26.2% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders 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 yield of 0.3%. The ex-dividend date was Monday, December 15th. Meta Platforms’s payout ratio is 9.28%.

About Meta Platforms

(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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