Meadow Creek Wealth Advisors LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Meadow Creek Wealth Advisors LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 9.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,040 shares of the social networking company’s stock after purchasing an additional 257 shares during the quarter. Meta Platforms accounts for about 1.4% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Meadow Creek Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chris Bulman Inc grew its position in Meta Platforms by 4.2% in the 3rd quarter. Chris Bulman Inc now owns 495 shares of the social networking company’s stock worth $283,000 after purchasing an additional 20 shares during the period. Elevated Capital Advisors LLC grew its holdings in shares of Meta Platforms by 135.3% in the third quarter. Elevated Capital Advisors LLC now owns 1,292 shares of the social networking company’s stock worth $740,000 after acquiring an additional 743 shares during the period. Bank Pictet & Cie Europe AG increased its position in Meta Platforms by 3.2% during the third quarter. Bank Pictet & Cie Europe AG now owns 213,872 shares of the social networking company’s stock valued at $122,429,000 after acquiring an additional 6,627 shares during the last quarter. Global X Japan Co. Ltd. lifted its holdings in Meta Platforms by 19.7% in the third quarter. Global X Japan Co. Ltd. now owns 56,055 shares of the social networking company’s stock valued at $32,088,000 after acquiring an additional 9,219 shares during the period. Finally, Weaver Capital Management LLC boosted its position in Meta Platforms by 11.9% in the third quarter. Weaver Capital Management LLC now owns 5,279 shares of the social networking company’s stock worth $3,022,000 after purchasing an additional 560 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Raymond James increased their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 10th. TD Securities lifted their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Truist Financial raised 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, Barclays upped their price objective on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $619.20.

Meta Platforms Stock Performance

NASDAQ:META opened at $567.78 on Friday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.44 trillion, a P/E ratio of 32.61, a P/E/G ratio of 1.45 and a beta of 1.22. The company’s 50-day moving average price is $549.53 and its 200-day moving average price is $509.99.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling

In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the transaction, the chief operating officer now owns 5,147 shares in the company, valued at $2,684,057.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $521.48, for a total transaction of $214,849.76. Following the transaction, the chief operating officer now directly owns 5,147 shares of the company’s stock, valued at $2,684,057.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 250,817 shares of company stock valued at $132,547,715 in the last ninety days. 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.