Precision Wealth Strategies LLC Grows Position in Meta Platforms, Inc. $META

Precision Wealth Strategies LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 23.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,879 shares of the social networking company’s stock after acquiring an additional 1,682 shares during the quarter. Meta Platforms accounts for 2.1% of Precision Wealth Strategies LLC’s holdings, making the stock its 9th biggest position. Precision Wealth Strategies LLC’s holdings in Meta Platforms were worth $6,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. Bare Financial Services Inc acquired a new stake in Meta Platforms in the 2nd quarter valued at $30,000. Evergreen Private Wealth LLC boosted its stake in shares of Meta Platforms by 237.5% during the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after buying an additional 38 shares during the last quarter. Briaud Financial Planning Inc bought a new position in shares of Meta Platforms in the 2nd quarter valued at about $42,000. Knuff & Co LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at about $44,000. Finally, WFA Asset Management Corp raised its holdings in Meta Platforms by 42.6% during the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after acquiring an additional 20 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 580 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $646.00, for a total value of $374,680.00. Following the transaction, the director directly owned 6,167 shares of the company’s stock, valued at $3,983,882. This represents a 8.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $659.38, for a total value of $342,218.22. Following the transaction, the insider owned 29,177 shares in the company, valued at $19,238,730.26. The trade was a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 41,038 shares of company stock worth $25,587,621 in the last ninety days. 13.61% of the stock is owned by company insiders.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays decreased their price target on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Zacks Research downgraded shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Roth Capital reissued a “buy” rating on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, Morgan Stanley dropped their target price on shares of Meta Platforms from $820.00 to $750.00 and set an “overweight” rating on the stock in a report on Thursday, December 11th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $820.22.

Read Our Latest Stock Analysis on META

Meta Platforms Stock Performance

NASDAQ META opened at $658.69 on Tuesday. The stock has a market cap of $1.66 trillion, a PE ratio of 29.09, a P/E/G ratio of 1.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a 50-day moving average of $653.34 and a 200-day moving average of $706.14. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating the consensus estimate of $6.74 by $0.51. The firm had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business’s revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the firm earned $6.03 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.

About Meta Platforms

(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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