IHT Wealth Management LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

IHT Wealth Management LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 51.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,681 shares of the social networking company’s stock after purchasing an additional 17,849 shares during the quarter. Meta Platforms makes up approximately 0.9% of IHT Wealth Management LLC’s portfolio, making the stock its 18th biggest position. IHT Wealth Management LLC’s holdings in Meta Platforms were worth $30,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in META. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. lifted its stake in 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 buying an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $46,000. West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the third quarter worth approximately $49,000. Finally, NewSquare Capital LLC increased its holdings in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after acquiring an additional 71 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the transaction, the insider now directly owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50. Following the sale, the insider now directly owns 37,790 shares of the company’s stock, valued at approximately $21,362,687. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,334 shares of company stock worth $59,210,941 in the last ninety days. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on META. KeyCorp increased their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Bank of America raised their price target on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Citigroup lifted their target price on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued 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 price target of $634.71.

Meta Platforms Trading Up 0.3 %

Shares of NASDAQ:META traded up $1.50 during trading on Tuesday, reaching $594.33. The stock had a trading volume of 1,022,314 shares, compared to its average volume of 14,804,930. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.50 trillion, a P/E ratio of 27.92, a PEG ratio of 1.27 and a beta of 1.20. The business has a fifty day moving average price of $575.21 and a 200-day moving average price of $528.08. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95.

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, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Meta Platforms 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.