Boston Family Office LLC Has $1.17 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Boston Family Office LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 24.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,036 shares of the social networking company’s stock after acquiring an additional 403 shares during the period. Boston Family Office LLC’s holdings in Meta Platforms were worth $1,165,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of META. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted 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 purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms during the third quarter worth $46,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at $49,000. Finally, NewSquare Capital LLC increased its stake in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after purchasing an additional 71 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $521.35, for a total transaction of $215,317.55. Following the transaction, the chief operating officer now directly owns 14,011 shares in the company, valued at approximately $7,304,634.85. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,656 shares of company stock valued at $61,933,867. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

META has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Mizuho raised their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp upped their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Roth Mkm increased their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Tigress Financial upped their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Two investment 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. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Trading Up 1.5 %

NASDAQ META opened at $573.54 on Wednesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The business has a 50 day moving average price of $573.38 and a 200-day moving average price of $525.35. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating 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 business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

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.