CWA Asset Management Group LLC Invests $28.43 Million in Meta Platforms, Inc. (NASDAQ:META)

CWA Asset Management Group LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 49,667 shares of the social networking company’s stock, valued at approximately $28,431,000. Meta Platforms accounts for about 1.5% of CWA Asset Management Group LLC’s investment portfolio, making the stock its 7th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in the business. Central Valley Advisors LLC grew its holdings in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares during the period. Cherrydale Wealth Management LLC boosted its holdings in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC grew its position in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares during the period. Kozak & Associates Inc. lifted its position in shares of Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 211,416 shares of company stock worth $112,638,243 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $583.17 on Tuesday. The firm’s fifty day simple moving average is $563.02 and its 200 day simple moving average is $517.29. 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, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The firm has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.30 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates 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. As a group, equities research analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on META shares. Piper Sandler lifted their price objective on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Raymond James boosted their price objective 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. DA Davidson initiated coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price for the company. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Barclays lifted their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $634.10.

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.