Meta Platforms, Inc. $META Shares Acquired by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 23.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,400 shares of the social networking company’s stock after purchasing an additional 831 shares during the period. Valley Wealth Managers Inc.’s holdings in Meta Platforms were worth $3,231,000 as of its most recent SEC filing.

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 in the second quarter worth $30,000. Briaud Financial Planning Inc purchased a new position in Meta Platforms during the 2nd quarter valued at about $42,000. Knuff & Co LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at about $44,000. WFA Asset Management Corp lifted its position in shares of Meta Platforms by 42.6% in 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 in the last quarter. Finally, Spurstone Advisory Services LLC purchased a new stake in shares of Meta Platforms in the second quarter worth approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $661.46 on Friday. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.67 trillion, a P/E ratio of 28.15, a PEG ratio of 1.13 and a beta of 1.28. The company’s 50-day simple moving average is $656.76 and its 200 day simple moving average is $695.12.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating the consensus estimate of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The company had revenue of $59.89 billion for the quarter, compared to analyst estimates of $58.33 billion. During the same period in the prior year, the company posted $8.02 EPS. The company’s revenue was up 23.8% compared to the same quarter last year. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were issued 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 (DPR) is presently 8.94%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on META shares. UBS Group reiterated a “buy” rating and issued a $872.00 price objective (up previously from $830.00) on shares of Meta Platforms in a research note on Thursday, January 29th. Pivotal Research reduced their price target on Meta Platforms from $930.00 to $910.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Piper Sandler boosted their price target on Meta Platforms from $840.00 to $880.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. The Goldman Sachs Group restated a “buy” rating on shares of Meta Platforms in a report on Tuesday, October 14th. Finally, Rothschild & Co Redburn set a $900.00 target price on Meta Platforms in a research report on Monday, January 26th. Four investment analysts have rated the stock with a Strong Buy rating, forty have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $847.40.

Read Our Latest Report on Meta Platforms

Key Headlines Impacting Meta Platforms

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

Insider Activity

In other Meta Platforms news, Director Robert M. Kimmitt sold 580 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $618.28, for a total transaction of $358,602.40. Following the sale, the director directly owned 5,587 shares of the company’s stock, valued at approximately $3,454,330.36. This represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $714.60, for a total transaction of $369,448.20. Following the completion of the transaction, the chief operating officer owned 9,615 shares of the company’s stock, valued at $6,870,879. This trade represents a 5.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 39,594 shares of company stock worth $24,325,407. Corporate insiders own 13.61% of the company’s stock.

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.

Featured Articles

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.