BIP Wealth LLC Acquires 69 Shares of Meta Platforms, Inc. (NASDAQ:META)

BIP Wealth LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,473 shares of the social networking company’s stock after acquiring an additional 69 shares during the period. BIP Wealth LLC’s holdings in Meta Platforms were worth $1,416,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in META. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. raised its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter valued at $49,000. Finally, NewSquare Capital LLC grew its stake in Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total transaction of $469,740.25. Following the completion of the transaction, the insider now directly owns 39,627 shares in the company, valued at approximately $20,568,394.35. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,843 shares of company stock worth $92,083,554 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Roth Mkm boosted their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Evercore ISI raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Loop Capital raised their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Trading Down 0.4 %

Shares of Meta Platforms stock opened at $563.09 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.42 trillion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 1.24 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 has a 50-day simple moving average of $572.05 and a 200 day simple moving average of $523.31.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 during the quarter, compared to the consensus estimate of $40.21 billion. Research 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 announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.