Meta Platforms, Inc. $META Shares Purchased by Asset One Wealth Management LLC

Key Points

• Asset One Wealth Management increased its Meta stake by 14.7% in the third quarter, adding 2,352 shares to hold 18,405 shares worth about $13.35 million.
• Meta reported quarterly earnings of $7.40 per share, beating the $6.54 analyst consensus, while revenue of $64.6 billion topped estimates and rose 26.1% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $833.12; 50 analysts rated the stock Buy or Strong Buy and seven rated it Hold.

Asset One Wealth Management LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,405 shares of the social networking company's stock after acquiring an additional 2,352 shares during the period. Meta Platforms makes up 1.1% of Asset One Wealth Management LLC's portfolio, making the stock its 18th biggest holding. Asset One Wealth Management LLC's holdings in Meta Platforms were worth $13,347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of META. Fairtree Asset Management Pty Ltd grew its position in Meta Platforms by 18.6% during the second quarter. Fairtree Asset Management Pty Ltd now owns 18,777 shares of the social networking company's stock worth $10,577,000 after buying an additional 2,939 shares in the last quarter. Madison Wealth Partners Inc increased its stake in Meta Platforms by 33.6% during the second quarter. Madison Wealth Partners Inc now owns 3,031 shares of the social networking company's stock valued at $1,707,000 after acquiring an additional 763 shares during the period. William John Sempolinski acquired a new position in Meta Platforms in the 2nd quarter valued at approximately $3,107,000. Sone Capital Management LLC raised its holdings in Meta Platforms by 38.2% in the 2nd quarter. Sone Capital Management LLC now owns 16,059 shares of the social networking company's stock valued at $9,046,000 after acquiring an additional 4,440 shares in the last quarter. Finally, Lakewood Capital Management LP lifted its position in shares of Meta Platforms by 63.7% in the 2nd quarter. Lakewood Capital Management LP now owns 115,985 shares of the social networking company's stock worth $65,333,000 after acquiring an additional 45,130 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ:META opened at $628.77 on Thursday. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $779.82. The firm has a 50 day moving average of $678.62 and a 200-day moving average of $632.12. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.61 trillion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping analysts' consensus estimates of $6.54 by $0.86. The business had revenue of $64.60 billion for the quarter, compared to analyst estimates of $63.34 billion. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. Meta Platforms's revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the prior year, the company earned $7.25 EPS. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 29.01 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, September 21st were paid a $0.5250 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's payout ratio is currently 7.16%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. TD Cowen lowered their price objective on Meta Platforms from $865.00 to $850.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Morgan Stanley boosted their price target on shares of Meta Platforms from $775.00 to $820.00 and gave the company an "overweight" rating in a report on Monday, October 19th. Benchmark restated a "hold" rating on shares of Meta Platforms in a research note on Thursday, August 27th. Scotiabank raised their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a "sector perform" rating in a report on Thursday, October 22nd. Finally, UBS Group reiterated an "outperform" rating and set a $920.00 target price on shares of Meta Platforms in a research report on Thursday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $833.12.

Meta Platforms News Summary

Here's some of the latest news about META:

• Positive Sentiment: JPMorgan named Meta its preferred internet stock, citing AI’s contribution to advertising performance and potential growth in Family of Apps ad revenue. Article: Meta Platforms Wins JPMorgan Backing
• Positive Sentiment: Meta launched its Muse AI agent on Apple Watch and Wear OS, adding voice and text access that could broaden use of its assistant. Article: Meta's AI agent Muse lands on Apple Watch
• Negative Sentiment: Meta’s Facebook was fined by Brazil’s electoral court over alleged failure to provide equal content during a presidential campaign, adding regulatory and reputational risk. Article: Meta Fined by Brazil Electoral Court

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 27,474 shares of the firm's stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $777.44, for a total value of $21,359,386.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Aaron Anderson sold 3,240 shares of the company's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $618.06, for a total transaction of $2,002,514.40. Following the transaction, the chief accounting officer owned 6,271 shares in the company, valued at approximately $3,875,854.26. This trade represents a 34.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 149,398 shares of company stock valued at $102,134,435. Insiders own 13.42% of the company's stock.

Meta Platforms Company Profile

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta's business, with its platforms providing tools for businesses to promote products and services.

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