Executive Wealth Management LLC Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

Executive Wealth Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,460 shares of the social networking company’s stock after acquiring an additional 629 shares during the quarter. Meta Platforms comprises about 1.4% of Executive Wealth Management LLC’s portfolio, making the stock its 18th largest position. Executive Wealth Management LLC’s holdings in Meta Platforms were worth $17,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FCG Investment Co increased its stake in Meta Platforms by 6.5% in the 2nd quarter. FCG Investment Co now owns 6,611 shares of the social networking company’s stock worth $3,333,000 after buying an additional 401 shares during the period. NorthCrest Asset Manangement LLC increased its stake in Meta Platforms by 1.3% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 48,390 shares of the social networking company’s stock worth $24,399,000 after buying an additional 613 shares during the period. Border to Coast Pensions Partnership Ltd increased its stake in Meta Platforms by 5.4% in the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 144,933 shares of the social networking company’s stock worth $73,101,000 after buying an additional 7,391 shares during the period. SJS Investment Consulting Inc. increased its stake in Meta Platforms by 173.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 1,076 shares of the social networking company’s stock worth $543,000 after buying an additional 682 shares during the period. Finally, Great Valley Advisor Group Inc. increased its position in Meta Platforms by 16.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 36,437 shares of the social networking company’s stock valued at $18,373,000 after purchasing an additional 5,071 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META opened at $613.57 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. The company has a 50 day moving average price of $580.47 and a 200-day moving average price of $534.10. Meta Platforms, Inc. has a 1-year low of $319.99 and a 1-year high of $629.79.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date is Monday, December 16th. Meta Platforms’s payout ratio is presently 9.42%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Bank of America raised their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. Wedbush restated an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Finally, KeyCorp raised their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two 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 stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $634.71.

Insider Buying and Selling

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, September 13th. The stock was sold at an average price of $520.57, for a total transaction of $214,995.41. Following the sale, the chief operating officer now directly owns 13,185 shares in the company, valued at approximately $6,863,715.45. This trade represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,201 shares of company stock valued at $95,420,559. 13.71% of the stock is owned by corporate insiders.

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.