Crestwood Advisors Group LLC Sells 5,505 Shares of Meta Platforms, Inc. $META

Crestwood Advisors Group LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,588 shares of the social networking company’s stock after selling 5,505 shares during the period. Meta Platforms comprises approximately 2.4% of Crestwood Advisors Group LLC’s holdings, making the stock its 7th biggest holding. Crestwood Advisors Group LLC’s holdings in Meta Platforms were worth $139,965,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of META. Bare Financial Services Inc purchased a new stake in Meta Platforms during the 2nd quarter worth approximately $30,000. Briaud Financial Planning Inc bought a new stake in shares of Meta Platforms in the 2nd quarter worth about $42,000. Knuff & Co LLC acquired a new stake 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% during 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 during the last quarter. Finally, Spurstone Advisory Services LLC bought a new stake in Meta Platforms in the second quarter valued at about $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on META shares. Guggenheim lifted their price objective on shares of Meta Platforms from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Meta Platforms in a research report on Monday, December 29th. Royal Bank Of Canada restated an “outperform” rating and set a $810.00 price objective on shares of Meta Platforms in a research note on Thursday, January 29th. Evercore increased their price objective on shares of Meta Platforms from $875.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Finally, Piper Sandler boosted their price objective on Meta Platforms from $840.00 to $880.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $844.44.

Check Out Our Latest Stock Analysis on META

Insider Activity

In related news, Director Robert M. Kimmitt sold 580 shares of the stock in a transaction dated 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 directly owned 6,167 shares of the company’s stock, valued at approximately $3,983,882. This represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 8,089 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $631.24, for a total value of $5,106,100.36. Following the sale, the chief technology officer owned 2,841 shares of the company’s stock, valued at $1,793,352.84. The trade was a 74.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,791 shares of company stock valued at $17,835,648 in the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Down 2.8%

NASDAQ META opened at $637.25 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60. The company has a market capitalization of $1.61 trillion, a P/E ratio of 27.12, a PEG ratio of 1.12 and a beta of 1.28. The company’s 50 day simple moving average is $656.47 and its 200 day simple moving average is $688.15. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the firm earned $8.02 earnings per share. Meta Platforms’s revenue for the quarter was up 23.8% compared to the same quarter last year. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, March 16th. Meta Platforms’s payout ratio is 8.94%.

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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.

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

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