Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,082 shares of the social networking company’s stock after purchasing an additional 4,594 shares during the quarter. Meta Platforms makes up about 1.1% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Bartlett & CO. Wealth Management LLC’s holdings in Meta Platforms were worth $75,609,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in META. Gradient Investments LLC raised its stake in shares of Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Meta Platforms by 14.0% during the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after purchasing an additional 748,076 shares in the last quarter. ERn Financial LLC lifted its position in shares of Meta Platforms by 59.0% during the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after purchasing an additional 613 shares in the last quarter. Stanley Laman Group Ltd. raised its position in shares of Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after acquiring an additional 352 shares during the last quarter. Finally, Lincoln National Corp lifted its stake in shares of Meta Platforms by 7.8% during the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock valued at $16,894,000 after acquiring an additional 2,504 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the sale, the insider now directly owns 35,130 shares in the company, valued at $17,206,674. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the transaction, the insider now directly owns 35,130 shares in the company, valued at approximately $17,206,674. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total value of $190,756.00. Following the sale, the chief operating officer now directly owns 5,559 shares of the company’s stock, valued at approximately $2,573,817. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 250,816 shares of company stock worth $132,421,828 over the last 90 days. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on META. Morgan Stanley increased their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Sanford C. Bernstein increased their price objective on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Finally, Bank of America raised their price target on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $617.37.

Meta Platforms Stock Performance

META stock opened at $576.47 on Friday. The firm has a market cap of $1.46 trillion, a P/E ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22. The stock’s 50 day simple moving average is $546.53 and its 200 day simple moving average is $508.76. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company earned $3.23 EPS. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.