Highline Wealth Partners LLC Invests $7.60 Million in Meta Platforms, Inc. (NASDAQ:META)

Highline Wealth Partners LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 13,271 shares of the social networking company’s stock, valued at approximately $7,597,000. Meta Platforms makes up 2.5% of Highline Wealth Partners LLC’s investment portfolio, making the stock its 10th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gradient Investments LLC lifted its stake in shares of Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Meta Platforms by 14.0% during the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after buying an additional 748,076 shares during the last quarter. Stanley Laman Group Ltd. grew its position in shares of Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after buying an additional 352 shares in the last quarter. Lincoln National Corp increased its stake in shares of Meta Platforms by 7.8% in the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after buying an additional 2,504 shares during the last quarter. Finally, BCGM Wealth Management LLC increased its stake in shares of Meta Platforms by 5.3% in the first quarter. BCGM Wealth Management LLC now owns 1,311 shares of the social networking company’s stock worth $637,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. Monness Crespi & Hardt upped their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday. Loop Capital lifted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Stifel Nicolaus upped their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, KeyCorp lifted their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The trade was a 0.00 % 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 the SEC website. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 251,993 shares of company stock worth $133,271,982 in the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $567.16 on Friday. Meta Platforms, Inc. has a 52 week low of $308.33 and a 52 week high of $602.95. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22. The company’s 50-day moving average price is $555.99 and its two-hundred day moving average price is $513.03.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.47 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

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.