Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Claro Advisors LLC

Claro Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,966 shares of the social networking company’s stock after acquiring an additional 2,613 shares during the quarter. Meta Platforms comprises approximately 1.3% of Claro Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Claro Advisors LLC’s holdings in Meta Platforms were worth $9,712,000 at the end of the most recent quarter.

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

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the sale, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,958 shares of company stock worth $101,181,747. 13.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Tigress Financial upped their price objective on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Wells Fargo & Company lowered their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Evercore ISI boosted their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two investment 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Trading Up 1.2 %

Shares of META stock opened at $561.09 on Wednesday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.23 and a beta of 1.22. The firm has a 50-day moving average price of $570.23 and a 200 day moving average price of $522.73. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 35.55% and a return on equity of 35.60%. Research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 0.36%. 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.