Sagespring Wealth Partners LLC Increases Stock Holdings in Meta Platforms, Inc. $META

Sagespring Wealth Partners LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 13.1% during the third quarter, Holdings Channel reports. The firm owned 36,381 shares of the social networking company’s stock after purchasing an additional 4,209 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Meta Platforms were worth $26,717,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in META. International Assets Investment Management LLC boosted its stake in shares of Meta Platforms by 2.4% in the third quarter. International Assets Investment Management LLC now owns 17,672 shares of the social networking company’s stock valued at $12,716,000 after purchasing an additional 420 shares during the period. Global Assets Advisory LLC boosted its position in Meta Platforms by 41.7% in the 3rd quarter. Global Assets Advisory LLC now owns 6,837 shares of the social networking company’s stock valued at $5,021,000 after buying an additional 2,012 shares during the period. Biltmore Family Office LLC grew its stake in shares of Meta Platforms by 247.4% in the third quarter. Biltmore Family Office LLC now owns 11,537 shares of the social networking company’s stock worth $8,472,000 after acquiring an additional 8,216 shares in the last quarter. October Effect Ltd grew its stake in shares of Meta Platforms by 13.7% in the third quarter. October Effect Ltd now owns 11,506 shares of the social networking company’s stock worth $8,450,000 after acquiring an additional 1,384 shares in the last quarter. Finally, GDS Wealth Management increased its position in shares of Meta Platforms by 2.5% during the third quarter. GDS Wealth Management now owns 29,125 shares of the social networking company’s stock worth $21,389,000 after acquiring an additional 705 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

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Insider Activity at Meta Platforms

In other news, CTO Andrew Bosworth sold 11,690 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total value of $6,935,793.90. Following the completion of the sale, the chief technology officer directly owned 2,415 shares of the company’s stock, valued at approximately $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 726 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total transaction of $429,501.60. Following the transaction, the chief accounting officer owned 6,035 shares in the company, valued at approximately $3,570,306. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,077 shares of company stock valued at $23,955,958 over the last 90 days. 13.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on META. Benchmark lowered Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, October 30th. Citizens Jmp reiterated an “outperform” rating and issued a $900.00 price objective (up previously from $750.00) on shares of Meta Platforms in a research note on Monday, November 24th. Arete Research set a $718.00 target price on shares of Meta Platforms in a research note on Thursday, December 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Meta Platforms in a report on Tuesday, October 14th. Finally, Evercore ISI boosted their price target on shares of Meta Platforms from $875.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday. Five analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $848.50.

Read Our Latest Research Report on Meta Platforms

Meta Platforms Stock Down 1.4%

META stock opened at $706.41 on Tuesday. The stock has a market cap of $1.78 trillion, a P/E ratio of 30.06, a PEG ratio of 1.36 and a beta of 1.28. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The company’s 50 day moving average is $653.93 and its two-hundred day moving average is $696.00.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, beating analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The firm had revenue of $59.89 billion for the quarter, compared to the consensus estimate of $58.33 billion. During the same period last year, the firm posted $8.02 EPS. The company’s revenue was up 23.8% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s payout ratio is 8.94%.

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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