Angeles Wealth Management LLC Has $9.01 Million Stock Holdings in Meta Platforms, Inc. $META

Angeles Wealth Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 27.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 12,266 shares of the social networking company’s stock after acquiring an additional 2,651 shares during the period. Meta Platforms makes up about 0.6% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Angeles Wealth Management LLC’s holdings in Meta Platforms were worth $9,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Trust Co of the South boosted its holdings in Meta Platforms by 0.8% during the third quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock valued at $1,359,000 after purchasing an additional 14 shares in the last quarter. Sentinel Pension Advisors LLC grew its position in Meta Platforms by 1.6% in the third quarter. Sentinel Pension Advisors LLC now owns 915 shares of the social networking company’s stock valued at $672,000 after acquiring an additional 14 shares during the period. Alpine Bank Wealth Management raised its stake in Meta Platforms by 0.3% during the third quarter. Alpine Bank Wealth Management now owns 4,301 shares of the social networking company’s stock worth $3,159,000 after acquiring an additional 14 shares in the last quarter. Valued Wealth Advisors LLC raised its stake in Meta Platforms by 3.2% during the third quarter. Valued Wealth Advisors LLC now owns 454 shares of the social networking company’s stock worth $334,000 after acquiring an additional 14 shares in the last quarter. Finally, Vista Capital Partners Inc. lifted its holdings in shares of Meta Platforms by 1.3% during the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after acquiring an additional 14 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of several recent analyst reports. Guggenheim boosted their target price on shares of Meta Platforms from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Stifel Nicolaus increased their target price on shares of Meta Platforms from $785.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Weiss Ratings restated a “buy (b)” rating on shares of Meta Platforms in a research report on Monday, December 29th. Raymond James Financial decreased their price objective on shares of Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating on the stock in a research note on Monday, January 26th. Finally, Canaccord Genuity Group raised their price objective on shares of Meta Platforms from $900.00 to $930.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Three investment 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 stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $844.44.

Get Our Latest Report on Meta Platforms

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 56,571 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $644.70, for a total value of $36,471,323.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 8,089 shares of the company’s stock in a transaction on 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 transaction, the chief technology officer directly owned 2,841 shares in the company, valued at approximately $1,793,352.84. This represents a 74.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 161,446 shares of company stock valued at $103,451,688 over the last quarter. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Up 0.1%

Shares of NASDAQ META opened at $654.86 on Thursday. The firm’s 50-day simple moving average is $654.42 and its 200 day simple moving average is $679.16. The company has a market cap of $1.66 trillion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 1.01 and a beta of 1.30. 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, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25.

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

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, March 16th. 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 currently 8.94%.

Key Headlines Impacting Meta Platforms

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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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