Bouvel Investment Partners LLC Raises Stake in Meta Platforms, Inc. (NASDAQ:META)

Bouvel Investment Partners LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the third quarter, HoldingsChannel.com reports. The firm owned 9,489 shares of the social networking company’s stock after purchasing an additional 40 shares during the quarter. Meta Platforms comprises about 2.0% of Bouvel Investment Partners LLC’s investment portfolio, making the stock its 14th biggest holding. Bouvel Investment Partners LLC’s holdings in Meta Platforms were worth $5,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of META. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. raised its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. purchased a new position in Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, J.Safra Asset Management Corp bought a new position in Meta Platforms in the 1st quarter worth approximately $47,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Truist Financial raised their price objective on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Susquehanna boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Guggenheim raised their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Trading Down 4.0 %

Shares of NASDAQ META opened at $554.08 on Friday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The firm has a market cap of $1.40 trillion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22. The business has a fifty day simple moving average of $568.11 and a two-hundred day simple moving average of $520.60. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. 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 (DPR) is currently 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares of the company’s stock, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,200 shares of company stock worth $84,533,106. 13.71% of the stock is owned by corporate insiders.

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.