CreativeOne Wealth LLC Acquires 5,786 Shares of Meta Platforms, Inc. (NASDAQ:META)

CreativeOne Wealth LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 38.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,773 shares of the social networking company’s stock after buying an additional 5,786 shares during the quarter. CreativeOne Wealth LLC’s holdings in Meta Platforms were worth $11,891,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Cypress Asset Management Inc. TX lifted its stake in shares of Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after purchasing an additional 3,224 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 0.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 16,111 shares of the social networking company’s stock worth $7,823,000 after purchasing an additional 56 shares during the last quarter. OMC Financial Services LTD purchased a new stake in shares of Meta Platforms during the 1st quarter worth $4,355,000. American Trust raised its stake in Meta Platforms by 1.6% in the first quarter. American Trust now owns 3,179 shares of the social networking company’s stock valued at $1,544,000 after buying an additional 50 shares during the last quarter. Finally, Jackson Wealth Management LLC purchased a new stake in Meta Platforms in the first quarter valued at about $599,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now directly owns 338,662 shares of the company’s stock, valued at $188,810,838.24. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,239 shares of company stock valued at $59,681,541. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on META shares. Barclays increased their price target on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Sanford C. Bernstein increased their price target on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Piper Sandler increased their price objective on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Trading Down 0.8 %

Shares of NASDAQ META opened at $569.20 on Friday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $574.75 and a 200-day simple moving average of $526.33. The stock has a market capitalization of $1.44 trillion, a PE ratio of 26.81, a PEG ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is presently 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.