Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,965 shares of the social networking company’s stock after buying an additional 101 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Meta Platforms were worth $7,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC grew its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. grew its position in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms in the first quarter valued at approximately $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Tigress Financial upped their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Susquehanna upped their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial increased their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $613.46.

Meta Platforms Stock Down 0.7 %

META stock traded down $4.15 during mid-day trading on Tuesday, hitting $586.27. 9,305,489 shares of the company were exchanged, compared to its average volume of 15,295,805. The company has a market capitalization of $1.49 trillion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The firm has a fifty day simple moving average of $540.41 and a 200 day simple moving average of $506.41.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the business earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, research analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total value of $533,850.45. Following the completion of the transaction, the insider now directly owns 34,197 shares of the company’s stock, valued at approximately $20,172,468.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $474.86, for a total value of $195,642.32. Following the transaction, the chief operating officer now owns 5,971 shares of the company’s stock, valued at $2,835,389.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total transaction of $533,850.45. Following the completion of the transaction, the insider now directly owns 34,197 shares in the company, valued at $20,172,468.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 249,826 shares of company stock valued at $131,791,613. Company insiders own 13.71% of the company’s stock.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.