Wolff Wiese Magana LLC Has $1.50 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Wolff Wiese Magana LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,613 shares of the social networking company’s stock after purchasing an additional 442 shares during the period. Wolff Wiese Magana LLC’s holdings in Meta Platforms were worth $1,496,000 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 META. Gradient Investments LLC grew its position in Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after acquiring an additional 5,953 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Meta Platforms by 14.0% in the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after purchasing an additional 748,076 shares in the last quarter. ERn Financial LLC grew its holdings 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 during the last quarter. Stanley Laman Group Ltd. increased its stake in shares of Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after buying an additional 352 shares in the last quarter. Finally, Lincoln National Corp raised its holdings in shares of Meta Platforms by 7.8% in the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock valued at $16,894,000 after buying an additional 2,504 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group increased their price objective on shares of Meta Platforms from $635.00 to $690.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Tigress Financial raised their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Citigroup upped their price objective on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Rosenblatt Securities lifted their target price on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $613.71.

Insider Buying and Selling at Meta Platforms

In other 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 owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total transaction of $533,850.45. Following the sale, the insider now owns 34,197 shares of the company’s stock, valued at $20,172,468.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. This 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 249,911 shares of company stock valued at $131,887,905 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $576.79 on Thursday. The stock has a market cap of $1.46 trillion, a PE ratio of 33.13, a P/E/G ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a 50-day moving average of $544.01 and a 200-day moving average of $507.60. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share 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 period in the prior year, the firm earned $3.23 EPS. The business’s revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 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.