Angeles Wealth Management LLC Raises Position in Meta Platforms, Inc. (NASDAQ:META)

Angeles Wealth Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,834 shares of the social networking company’s stock after purchasing an additional 639 shares during the period. Meta Platforms comprises 0.4% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 26th largest position. Angeles Wealth Management LLC’s holdings in Meta Platforms were worth $5,057,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors lifted its holdings in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after buying an additional 244,803 shares during the period. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Finally, GQG Partners LLC increased its position in Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after acquiring an additional 342,742 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 243,919 shares of company stock valued at $129,296,067. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.1 %

META stock opened at $572.05 on Thursday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The stock has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22. 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 firm’s fifty day simple moving average is $557.85 and its two-hundred day simple moving average is $514.31.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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 net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

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 0.35%. Meta Platforms’s payout ratio is 9.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on META shares. Robert W. Baird boosted their price target on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, UBS Group lifted their target price on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

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.