BAM Wealth Management LLC Takes Position in Meta Platforms, Inc. $META

BAM Wealth Management LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,933 shares of the social networking company’s stock, valued at approximately $1,420,000. Meta Platforms accounts for about 1.1% of BAM Wealth Management LLC’s portfolio, making the stock its 19th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the company. Bare Financial Services Inc acquired a new position in Meta Platforms in the second quarter valued at approximately $30,000. Briaud Financial Planning Inc acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $42,000. Knuff & Co LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $44,000. WFA Asset Management Corp boosted its position in shares of Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after purchasing an additional 20 shares during the last quarter. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of Meta Platforms during the second quarter worth $59,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, COO Javier Olivan sold 517 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $665.00, for a total transaction of $343,805.00. Following the transaction, the chief operating officer directly owned 10,132 shares of the company’s stock, valued at approximately $6,737,780. The trade was a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $658.69, for a total transaction of $341,860.11. Following the transaction, the insider directly owned 28,658 shares of the company’s stock, valued at approximately $18,876,738.02. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 39,077 shares of company stock valued at $23,955,958 over the last three months. Insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

META opened at $706.41 on Tuesday. The company has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 1.36 and a beta of 1.28. The business’s 50-day moving average price is $653.93 and its two-hundred day moving average price is $696.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25.

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

Meta Platforms Announces Dividend

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

Trending Headlines about Meta Platforms

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Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley increased their target price on Meta Platforms from $750.00 to $825.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen reissued a “buy” rating on shares of Meta Platforms in a research note on Tuesday, January 13th. Wedbush upped their target price on shares of Meta Platforms from $880.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday. Roth Mkm reduced their price target on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Finally, Robert W. Baird boosted their price target on shares of Meta Platforms from $815.00 to $830.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $848.50.

Read Our Latest Research Report on META

Meta Platforms Company 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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