Octavia Wealth Advisors LLC Buys 79 Shares of Meta Platforms, Inc. (NASDAQ:META)

Octavia Wealth Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,248 shares of the social networking company’s stock after purchasing an additional 79 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. MBM Wealth Consultants LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at $26,000. Altshuler Shaham Ltd bought a new position in shares of Meta Platforms during the second quarter valued at $30,000. Stephens Investment Management Group LLC bought a new position in Meta Platforms in the second quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Meta Platforms in the third quarter valued at about $40,000. Finally, Red Tortoise LLC lifted its holdings in Meta Platforms by 32.2% in the first quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 46 shares during the period. 62.87% of the stock is owned by institutional investors.

Meta Platforms Stock Up 1.3 %

NASDAQ META opened at $374.49 on Friday. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $340.18 and a two-hundred day moving average of $315.91. The firm has a market capitalization of $962.39 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 0.98 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $132.14 and a 52 week high of $377.06.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The social networking company reported $4.39 EPS for the quarter, topping the consensus estimate of $3.62 by $0.77. The company had revenue of $34.15 billion during the quarter, compared to analyst estimates of $33.58 billion. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. Meta Platforms’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 earnings per share. On average, analysts predict that Meta Platforms, Inc. will post 14.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on META. Oppenheimer reissued an “outperform” rating and issued a $385.00 target price on shares of Meta Platforms in a report on Thursday, September 28th. KeyCorp increased their target price on Meta Platforms from $356.00 to $380.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Truist Financial increased their target price on Meta Platforms from $390.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, October 26th. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of Meta Platforms in a report on Thursday, September 28th. Finally, Wedbush upped their price target on Meta Platforms from $350.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $358.07.

Get Our Latest Report on Meta Platforms

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 670 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $316.78, for a total transaction of $212,242.60. Following the completion of the sale, the insider now directly owns 33,660 shares of the company’s stock, valued at $10,662,814.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 670 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $316.78, for a total transaction of $212,242.60. Following the completion of the sale, the insider now directly owns 33,660 shares of the company’s stock, valued at $10,662,814.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $310.60, for a total transaction of $8,699,595.40. The disclosure for this sale can be found here. Insiders sold 744,978 shares of company stock valued at $250,659,740 over the last three months. 13.75% of the stock is owned by company insiders.

Meta Platforms Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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