1,776 Meta Platforms, Inc. $META Shares Purchased by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,335 shares of the social networking company’s stock after buying an additional 1,776 shares during the period. Meta Platforms comprises about 2.1% of Beverly Hills Private Wealth LLC’s investment portfolio, making the stock its 8th largest holding. Beverly Hills Private Wealth LLC’s holdings in Meta Platforms were worth $14,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of META. Bill Few Associates Inc. grew its stake in shares of Meta Platforms by 1.3% during the 3rd quarter. Bill Few Associates Inc. now owns 1,206 shares of the social networking company’s stock worth $874,000 after acquiring an additional 15 shares in the last quarter. Value Partners Investments Inc. grew its position in Meta Platforms by 1.8% in the third quarter. Value Partners Investments Inc. now owns 866 shares of the social networking company’s stock valued at $630,000 after purchasing an additional 15 shares in the last quarter. Tenzing Financial LLC grew its position in Meta Platforms by 1.3% in the second quarter. Tenzing Financial LLC now owns 1,210 shares of the social networking company’s stock valued at $726,000 after purchasing an additional 16 shares in the last quarter. Uptown Financial Advisors LLC increased its stake in Meta Platforms by 1.3% in the 2nd quarter. Uptown Financial Advisors LLC now owns 1,273 shares of the social networking company’s stock valued at $717,000 after buying an additional 16 shares during the last quarter. Finally, Sheets Smith Wealth Management increased its stake in Meta Platforms by 2.8% in the 2nd quarter. Sheets Smith Wealth Management now owns 594 shares of the social networking company’s stock valued at $334,000 after buying an additional 16 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms News Roundup

Investors following META have been watching these news items:

• Positive Sentiment: ETFs bought about $102.4 million of META shares on Nov. 11, indicating institutional demand that may have helped support the stock. 55 ETFs Add to Meta Platforms (META) on Nov. 11
• Neutral Sentiment: Meta employees are testing Takes, an in-development prediction-market app where users make forecasts using “cred,” not money. A public launch is uncertain, so any business impact remains unclear. Meta employees test prediction-market app, WSJ reports
• Negative Sentiment: A bearish technical analysis says META recently fell below its 200-day moving average, a signal that could encourage caution among momentum-focused investors. As Meta Platforms Continues To Weaken, A Bearish Trade May Be In Order

Analyst Upgrades and Downgrades

META has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of Meta Platforms from $895.00 to $905.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Jefferies Financial Group lifted their target price on Meta Platforms from $710.00 to $875.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Wedbush upped their target price on Meta Platforms from $700.00 to $730.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Morgan Stanley increased their price target on Meta Platforms from $775.00 to $820.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. Finally, Monness Crespi & Hardt restated a “buy” rating and issued a $875.00 price target on shares of Meta Platforms in a research note on Thursday, October 22nd. Three analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $833.12.

Insider Activity

In related news, COO Javier Olivan sold 946 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $631.03, for a total value of $596,954.38. Following the transaction, the chief operating officer owned 3,148 shares in the company, valued at approximately $1,986,482.44. This represents a 23.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 148,846 shares of company stock worth $101,660,996. Company insiders own 13.42% of the company’s stock.

Meta Platforms Trading Up 2.9%

Meta Platforms stock opened at $641.69 on Friday. The stock has a 50-day simple moving average of $679.85 and a 200 day simple moving average of $631.72. The stock has a market capitalization of $1.64 trillion, a P/E ratio of 21.88, a PEG ratio of 1.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $779.82.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.86. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The company had revenue of $64.60 billion during the quarter, compared to analysts’ expectations of $63.34 billion. During the same period last year, the firm posted $7.25 earnings per share. The business’s revenue was up 26.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 29.01 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were paid a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 21st. Meta Platforms’s dividend payout ratio (DPR) is currently 7.16%.

Meta Platforms Profile

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.