Arkadios Wealth Advisors Purchases 4,288 Shares of Meta Platforms, Inc. $META

Arkadios Wealth Advisors lifted its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 9.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,051 shares of the social networking company’s stock after acquiring an additional 4,288 shares during the quarter. Meta Platforms accounts for 0.8% of Arkadios Wealth Advisors’ portfolio, making the stock its 11th largest position. Arkadios Wealth Advisors’ holdings in Meta Platforms were worth $35,288,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Goldstone Financial Group LLC increased its holdings in shares of Meta Platforms by 44.4% in the 3rd quarter. Goldstone Financial Group LLC now owns 3,752 shares of the social networking company’s stock valued at $2,756,000 after acquiring an additional 1,153 shares during the period. Spirepoint Private Client LLC lifted its stake in shares of Meta Platforms by 2.7% during the 2nd quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after purchasing an additional 109 shares during the last quarter. Diversify Advisory Services LLC boosted its position in Meta Platforms by 10.4% during the second quarter. Diversify Advisory Services LLC now owns 55,431 shares of the social networking company’s stock valued at $43,790,000 after purchasing an additional 5,224 shares in the last quarter. CW Advisors LLC boosted its position in Meta Platforms by 27.8% during the second quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock valued at $130,467,000 after purchasing an additional 38,432 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Meta Platforms by 11.0% in the second quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock valued at $155,387,000 after purchasing an additional 20,912 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on META. DA Davidson set a $825.00 target price on shares of Meta Platforms in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Meta Platforms in a research report on Monday, December 29th. Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. UBS Group lowered their target price on shares of Meta Platforms from $915.00 to $830.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $900.00 price target on shares of Meta Platforms in a report on Thursday, October 30th. Five 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. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $822.00.

Check Out Our Latest Stock Analysis on META

Meta Platforms News Roundup

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

Meta Platforms Price Performance

NASDAQ META opened at $672.97 on Wednesday. The company has a market cap of $1.70 trillion, a price-to-earnings ratio of 29.72, a PEG ratio of 1.33 and a beta of 1.29. 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’s fifty day moving average price is $645.06 and its 200 day moving average price is $696.04. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly 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. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. During the same quarter in the previous year, the firm posted $6.03 EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the completion of the sale, the chief technology officer directly owned 2,415 shares in the company, valued at approximately $1,432,843.65. The trade was a 82.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 2,610 shares of the stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the completion of the sale, the chief operating officer owned 9,784 shares in the company, valued at $5,962,956.64. The trade was a 21.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,596 shares of company stock worth $24,277,237 in the last quarter. 13.61% of the stock is currently owned by corporate insiders.

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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