CV Advisors LLC Purchases 2,390 Shares of Meta Platforms, Inc. (NASDAQ:META)

CV Advisors LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 479.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,889 shares of the social networking company’s stock after acquiring an additional 2,390 shares during the period. Meta Platforms accounts for about 0.8% of CV Advisors LLC’s holdings, making the stock its 11th biggest position. CV Advisors LLC’s holdings in Meta Platforms were worth $1,654,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of META. Delos Wealth Advisors LLC lifted its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. raised 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 purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms during the third quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $532.21, for a total value of $481,650.05. Following the completion of the transaction, the insider now directly owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $532.21, for a total value of $481,650.05. Following the sale, the insider now directly owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 228,118 shares of company stock worth $121,237,935. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.4 %

NASDAQ META opened at $589.34 on Friday. The stock has a market cap of $1.49 trillion, a PE ratio of 27.76, a PEG ratio of 1.27 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’s 50-day moving average price is $561.78 and its 200-day moving average price is $516.13. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on META. Citigroup boosted 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. Wedbush reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. JMP Securities upped their target price on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Wolfe Research started coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $634.10.

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.