Circle Wealth Management LLC Purchases 2,913 Shares of Meta Platforms, Inc. (NASDAQ:META)

Circle Wealth Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.9% during the third quarter, Holdings Channel reports. The fund owned 17,516 shares of the social networking company’s stock after purchasing an additional 2,913 shares during the period. Meta Platforms makes up about 0.2% of Circle Wealth Management LLC’s holdings, making the stock its 29th biggest holding. Circle Wealth Management LLC’s holdings in Meta Platforms were worth $10,027,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in META. Jackson Wealth Management LLC increased its stake in shares of Meta Platforms by 392.2% during the second quarter. Jackson Wealth Management LLC now owns 6,069 shares of the social networking company’s stock valued at $3,060,000 after purchasing an additional 4,836 shares in the last quarter. Park Place Capital Corp boosted its stake in Meta Platforms by 1.0% in the 2nd quarter. Park Place Capital Corp now owns 3,757 shares of the social networking company’s stock worth $1,894,000 after purchasing an additional 39 shares in the last quarter. GAMMA Investing LLC grew its position in Meta Platforms by 48.3% during the 2nd quarter. GAMMA Investing LLC now owns 24,402 shares of the social networking company’s stock valued at $12,304,000 after purchasing an additional 7,943 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Meta Platforms by 1.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 99,932 shares of the social networking company’s stock valued at $50,388,000 after purchasing an additional 1,341 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV raised its holdings in Meta Platforms by 11.8% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 12,825 shares of the social networking company’s stock worth $6,467,000 after buying an additional 1,349 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on META shares. Loop Capital raised their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Bank of America boosted their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Truist Financial increased their price target on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $675.00 price objective on shares of Meta Platforms in a report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Stock Up 0.9 %

Shares of NASDAQ:META opened at $574.32 on Friday. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $575.21 and a 200 day moving average price of $527.37.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities research analysts predict that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now directly owns 19,579 shares in the company, valued at approximately $11,018,473.83. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total transaction of $511,596.50. Following the completion of the transaction, the insider now directly owns 37,790 shares in the company, valued at $21,362,687. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,239 shares of company stock valued at $59,681,541. Company insiders own 13.71% of the company’s stock.

Meta Platforms Company Profile

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.