Beirne Wealth Consulting Services LLC Makes New Investment in Meta Platforms, Inc. $META

Beirne Wealth Consulting Services LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,044 shares of the social networking company’s stock, valued at approximately $2,236,000.

A number of other large investors have also made changes to their positions in META. Bare Financial Services Inc acquired a new position in shares of Meta Platforms in the 2nd quarter valued at approximately $30,000. Briaud Financial Planning Inc bought a new position in Meta Platforms in the second quarter valued at approximately $42,000. Knuff & Co LLC bought a new position in Meta Platforms in the second quarter valued at approximately $44,000. WFA Asset Management Corp boosted its holdings 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 valued at $49,000 after buying an additional 20 shares during the period. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Meta Platforms during the second quarter worth $59,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, Director Robert M. Kimmitt sold 580 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $639.18, for a total transaction of $370,724.40. Following the completion of the sale, the director directly owned 5,007 shares in the company, valued at $3,200,374.26. This represents a 10.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Andrew Bosworth sold 8,089 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $631.24, for a total transaction of $5,106,100.36. Following the completion of the sale, the chief technology officer owned 2,841 shares in the company, valued at approximately $1,793,352.84. The trade was a 74.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 27,791 shares of company stock worth $17,835,648. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Down 2.8%

Meta Platforms stock opened at $637.25 on Tuesday. The company’s 50-day moving average price is $656.47 and its two-hundred day moving average price is $688.15. The stock has a market cap of $1.61 trillion, a P/E ratio of 27.12, a P/E/G ratio of 1.12 and a beta of 1.28. 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.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share 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 during the quarter, compared to the consensus estimate of $58.33 billion. During the same quarter last year, the firm earned $8.02 earnings per share. The company’s revenue was up 23.8% on a year-over-year basis. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Meta Platforms from $840.00 to $880.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Guggenheim upped their price objective on Meta Platforms from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Morgan Stanley increased their price objective on Meta Platforms from $750.00 to $825.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Wolfe Research restated an “outperform” rating and issued a $850.00 target price (up previously from $800.00) on shares of Meta Platforms in a research note on Thursday, January 29th. Finally, Mizuho lifted their price objective on shares of Meta Platforms from $815.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $844.44.

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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.

See Also

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

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