Mirador Capital Partners LP Boosts Stock Holdings in Meta Platforms, Inc. $META

by · The Cerbat Gem

Mirador Capital Partners LP lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,200 shares of the social networking company’s stock after acquiring an additional 770 shares during the quarter. Meta Platforms comprises approximately 2.6% of Mirador Capital Partners LP’s holdings, making the stock its 7th largest position. Mirador Capital Partners LP’s holdings in Meta Platforms were worth $18,506,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Infusive Asset Management Inc. grew its holdings in shares of Meta Platforms by 10.7% during the 1st quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock worth $13,614,000 after purchasing an additional 2,285 shares in the last quarter. Spirepoint Private Client LLC lifted its position in Meta Platforms by 2.7% in the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after purchasing an additional 109 shares during the period. Diversify Advisory Services LLC lifted its position in Meta Platforms by 10.4% in the second quarter. Diversify Advisory Services LLC now owns 55,431 shares of the social networking company’s stock worth $43,790,000 after purchasing an additional 5,224 shares during the period. CW Advisors LLC boosted its stake in Meta Platforms by 27.8% during the second quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock worth $130,467,000 after buying an additional 38,432 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Meta Platforms by 11.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock valued at $155,387,000 after buying an additional 20,912 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on META shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $870.00 target price (down from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Meta Platforms in a research note on Thursday, October 30th. TD Cowen lowered their price objective on Meta Platforms from $875.00 to $810.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Royal Bank Of Canada dropped their target price on Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Meta Platforms in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $819.46.

View Our Latest Research Report on Meta Platforms

Insider Activity at Meta Platforms

In other news, CTO Andrew Bosworth sold 11,690 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the sale, the chief technology officer directly owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 2,610 shares of the firm’s stock in a transaction that occurred on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the completion of the sale, the chief operating officer directly owned 9,784 shares of the company’s stock, valued at approximately $5,962,956.64. This represents a 21.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,074 shares of company stock valued at $26,478,698 in the last three months. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 2.3%

META stock opened at $664.45 on Friday. The business has a fifty day moving average price of $660.69 and a 200 day moving average price of $707.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 1.36 and a beta of 1.28.

Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. During the same quarter in the prior year, the business earned $6.03 earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s payout ratio is currently 9.28%.

Meta Platforms Profile

(Free Report)

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.

See Also

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