Catalytic Wealth RIA LLC Acquires 32 Shares of Meta Platforms, Inc. (NASDAQ:META)

Catalytic Wealth RIA LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,845 shares of the social networking company’s stock after purchasing an additional 32 shares during the period. Meta Platforms comprises about 0.7% of Catalytic Wealth RIA LLC’s portfolio, making the stock its 28th largest holding. Catalytic Wealth RIA LLC’s holdings in Meta Platforms were worth $3,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. International Assets Investment Management LLC increased its position in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in Meta Platforms during the second quarter worth $595,152,000. Vanguard Group Inc. raised its position in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Meta Platforms by 30.0% in the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after acquiring an additional 788,131 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $577.16 on Friday. The company’s 50 day moving average price is $565.83 and its two-hundred day moving average price is $518.72. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.29 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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. 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 currently 9.42%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $526.94, for a total transaction of $8,800,951.88. Following the completion of the transaction, the chief executive officer now directly owns 46,292 shares of the company’s stock, valued at $24,393,106.48. This trade represents a 26.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock worth $84,533,106 in the last quarter. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Piper Sandler boosted their price target on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Guggenheim raised their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Truist Financial boosted their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, KeyCorp increased their price target on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $634.10.

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.