Meta Platforms, Inc. (NASDAQ:META) Position Increased by Lyell Wealth Management LP

Lyell Wealth Management LP increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,130 shares of the social networking company’s stock after buying an additional 650 shares during the period. Meta Platforms comprises about 2.6% of Lyell Wealth Management LP’s portfolio, making the stock its 5th biggest position. Lyell Wealth Management LP’s holdings in Meta Platforms were worth $28,124,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Gradient Investments LLC increased its stake in Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after purchasing an additional 5,953 shares during the last quarter. Baillie Gifford & Co. increased its stake in Meta Platforms by 14.0% in the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after purchasing an additional 748,076 shares during the last quarter. Stanley Laman Group Ltd. increased its stake in Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after purchasing an additional 352 shares during the last quarter. Lincoln National Corp increased its stake in Meta Platforms by 7.8% in the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock valued at $16,894,000 after purchasing an additional 2,504 shares during the last quarter. Finally, BCGM Wealth Management LLC increased its stake in 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 valued at $637,000 after purchasing an additional 66 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.9 %

Shares of META stock opened at $578.16 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $296.86 and a fifty-two week high of $602.95. The stock has a market cap of $1.47 trillion, a P/E ratio of 33.21, a P/E/G ratio of 1.42 and a beta of 1.22. The business has a fifty day simple moving average of $552.03 and a 200-day simple moving average of $511.04. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 EPS. On average, analysts forecast that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,817 shares of company stock worth $132,547,715. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wedbush reiterated an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Jefferies Financial Group increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Citigroup increased their price objective on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $621.63.

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.