Western Wealth Management LLC Has $16.27 Million Stake in Meta Platforms, Inc. $META

Western Wealth Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,153 shares of the social networking company’s stock after buying an additional 895 shares during the period. Meta Platforms makes up about 0.9% of Western Wealth Management LLC’s investment portfolio, making the stock its 20th biggest position. Western Wealth Management LLC’s holdings in Meta Platforms were worth $16,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new position in Meta Platforms in the second quarter valued at about $30,000. Briaud Financial Planning Inc acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at approximately $42,000. Knuff & Co LLC bought a new position in Meta Platforms during the 2nd quarter worth approximately $44,000. WFA Asset Management Corp boosted its stake in Meta Platforms by 42.6% during the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after acquiring an additional 20 shares during the last quarter. Finally, Spurstone Advisory Services LLC acquired a new position in Meta Platforms during the second quarter valued at approximately $59,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Shares of META opened at $639.77 on Tuesday. The stock has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.09 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The firm has a fifty day simple moving average of $657.09 and a 200 day simple moving average of $692.40. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:METAGet Free Report) last posted 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. The company had revenue of $59.89 billion during the quarter, compared to the consensus estimate of $58.33 billion. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The company’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business posted $8.02 EPS. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Meta Platforms News Summary

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on META shares. Needham & Company LLC reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, January 29th. BNP Paribas Exane initiated coverage on Meta Platforms in a research note on Monday, November 24th. They set an “outperform” rating and a $800.00 price objective on the stock. Rosenblatt Securities boosted their target price on Meta Platforms from $1,117.00 to $1,144.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Raymond James Financial lowered their price target on Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating for the company in a report on Monday, January 26th. Finally, Zacks Research cut Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Three analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $845.50.

Get Our Latest Analysis on Meta Platforms

Insider Transactions at Meta Platforms

In other news, Director Robert M. Kimmitt sold 580 shares of Meta Platforms stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $618.28, for a total value of $358,602.40. Following the completion of the transaction, the director owned 5,587 shares of the company’s stock, valued at $3,454,330.36. This trade represents a 9.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 517 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $663.19, for a total transaction of $342,869.23. Following the transaction, the chief operating officer owned 9,098 shares in the company, valued at $6,033,702.62. This represents a 5.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,478 shares of company stock worth $6,799,696 in the last 90 days. 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.

Read More

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.