Executive Wealth Management LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Executive Wealth Management LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,460 shares of the social networking company’s stock after acquiring an additional 629 shares during the quarter. Meta Platforms makes up 1.4% of Executive Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Executive Wealth Management LLC’s holdings in Meta Platforms were worth $17,437,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the third quarter worth about $36,000. POM Investment Strategies LLC bought a new stake in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms during the third quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms during the third quarter worth about $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41. Following the transaction, the chief operating officer now owns 13,185 shares of the company’s stock, valued at $6,863,715.45. This trade represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,201 shares of company stock worth $95,420,559. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $613.57 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a fifty day moving average price of $580.47 and a 200-day moving average price of $534.10. Meta Platforms, Inc. has a 1 year low of $319.99 and a 1 year high of $629.79. The stock has a market cap of $1.55 trillion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 analyst estimates of $40.21 billion. Equities analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is 9.42%.

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. Bank of America upped their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Citigroup upped their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Tigress Financial upped their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Finally, Truist Financial upped their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, four have issued 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

About Meta Platforms

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.