Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Lifted by Keystone Wealth Services LLC

Keystone Wealth Services LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 27.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,162 shares of the social networking company’s stock after acquiring an additional 462 shares during the quarter. Keystone Wealth Services LLC’s holdings in Meta Platforms were worth $1,238,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Capital Research Global Investors grew its holdings in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC grew its holdings in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP acquired a new stake in Meta Platforms in the 2nd quarter valued at approximately $595,152,000. Global Assets Advisory LLC acquired a new stake in Meta Platforms in the 1st quarter valued at approximately $515,383,000. Finally, Vanguard Group Inc. grew its holdings in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.7 %

NASDAQ META opened at $586.27 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The stock has a fifty day moving average of $542.26 and a 200-day moving average of $507.12. The stock has a market capitalization of $1.49 trillion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the firm earned $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Rosenblatt Securities raised their target price on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Robert W. Baird raised their price objective on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Wolfe Research began coverage on Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective for the company. Finally, Bank of America raised their price objective on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $613.46.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $584.83, for a total value of $241,534.79. Following the transaction, the chief operating officer now owns 11,533 shares in the company, valued at approximately $6,744,844.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,239 shares of company stock valued at $132,033,148 over the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms 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.