Beta Wealth Group Inc. Purchases 2,094 Shares of Meta Platforms, Inc. (NASDAQ:META)

Beta Wealth Group Inc. increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 502.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,511 shares of the social networking company’s stock after acquiring an additional 2,094 shares during the quarter. Beta Wealth Group Inc.’s holdings in Meta Platforms were worth $1,437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pegasus Partners Ltd. grew its stake in Meta Platforms by 22.8% in the 3rd quarter. Pegasus Partners Ltd. now owns 3,345 shares of the social networking company’s stock valued at $1,915,000 after buying an additional 621 shares in the last quarter. Rovin Capital UT ADV increased its holdings in shares of Meta Platforms by 56.1% in the third quarter. Rovin Capital UT ADV now owns 1,052 shares of the social networking company’s stock worth $602,000 after purchasing an additional 378 shares during the period. Executive Wealth Management LLC boosted its stake in Meta Platforms by 2.1% during the third quarter. Executive Wealth Management LLC now owns 30,460 shares of the social networking company’s stock valued at $17,437,000 after buying an additional 629 shares during the period. Crumly & Associates Inc. purchased a new position in Meta Platforms during the third quarter worth about $233,000. Finally, United Bank increased its stake in Meta Platforms by 22.2% in the 3rd quarter. United Bank now owns 5,569 shares of the social networking company’s stock worth $3,188,000 after acquiring an additional 1,011 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.3 %

Shares of META opened at $584.82 on Wednesday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company’s fifty day moving average is $563.02 and its 200 day moving average is $517.29. The stock has a market capitalization of $1.48 trillion, a PE ratio of 27.64, a P/E/G 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Sell-side analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 194,714 shares of company stock valued at $103,811,069. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on META shares. Barclays boosted their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Bank of America lifted their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Citigroup raised their price target on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Evercore ISI upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, four have assigned 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.