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

Circle Wealth Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 19.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,516 shares of the social networking company’s stock after buying an additional 2,913 shares during the quarter. Meta Platforms makes up 0.2% of Circle Wealth Management LLC’s investment portfolio, making the stock its 29th largest holding. Circle Wealth Management LLC’s holdings in Meta Platforms were worth $10,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of META. POM Investment Strategies LLC bought a new position in Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter valued at about $46,000. West Financial Advisors LLC bought a new position in Meta Platforms during the third quarter valued at about $49,000. Finally, NewSquare Capital LLC increased its holdings in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying an additional 71 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $574.32 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.45 trillion, a PE ratio of 27.05, a PEG ratio of 1.25 and a beta of 1.22. The company’s fifty day moving average is $575.21 and its 200 day moving average is $527.37. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts anticipate that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analyst Weigh In

Several analysts have commented on META shares. Jefferies Financial Group lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. KeyCorp upped their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Guggenheim raised their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. Finally, Piper Sandler increased their price target on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Insider Transactions at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares in the company, 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 90 days, insiders have sold 106,239 shares of company stock worth $59,681,541. Insiders own 13.71% of the company’s stock.

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.