Napa Wealth Management Acquires 6,038 Shares of Meta Platforms, Inc. (NASDAQ:META)

Napa Wealth Management increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 381.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,620 shares of the social networking company’s stock after acquiring an additional 6,038 shares during the period. Meta Platforms makes up approximately 2.1% of Napa Wealth Management’s investment portfolio, making the stock its 5th biggest position. Napa Wealth Management’s holdings in Meta Platforms were worth $4,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Meta Platforms by 48.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after purchasing an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX increased its position in shares of Meta Platforms by 541.8% in the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after acquiring an additional 3,224 shares in the last quarter. Natixis raised its holdings in shares of Meta Platforms by 126.0% during the first quarter. Natixis now owns 455,820 shares of the social networking company’s stock valued at $221,337,000 after acquiring an additional 254,166 shares during the period. Leelyn Smith LLC purchased a new position in Meta Platforms during the 1st quarter worth approximately $270,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Meta Platforms in the first quarter valued at $3,143,000. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total value of $469,740.25. Following the completion of the sale, the insider now directly owns 39,627 shares in the company, valued at approximately $20,568,394.35. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 14,746 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.53, for a total transaction of $8,162,353.38. The disclosure for this sale can be found here. Insiders sold a total of 185,958 shares of company stock worth $101,181,747 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on META. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Thursday, October 31st. Susquehanna upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Mizuho increased their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Stock Up 0.8 %

Shares of Meta Platforms stock opened at $565.52 on Thursday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. 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 company has a market capitalization of $1.43 trillion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The business has a 50-day moving average of $571.30 and a two-hundred day moving average of $523.03.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced 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 dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Meta Platforms Company 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.