Revolve Wealth Partners LLC Acquires 831 Shares of Meta Platforms, Inc. $META

Revolve Wealth Partners LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,828 shares of the social networking company’s stock after acquiring an additional 831 shares during the period. Meta Platforms makes up approximately 0.8% of Revolve Wealth Partners LLC’s holdings, making the stock its 27th largest holding. Revolve Wealth Partners LLC’s holdings in Meta Platforms were worth $6,483,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Meta Platforms by 0.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock valued at $2,587,000 after acquiring an additional 13 shares during the period. Pachira Investments Inc. grew its holdings in Meta Platforms by 3.0% in the second quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock worth $360,000 after purchasing an additional 14 shares during the period. Hemington Wealth Management increased its stake in Meta Platforms by 0.6% in the second quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock valued at $1,641,000 after purchasing an additional 14 shares in the last quarter. Trust Co of the South raised its holdings in shares of Meta Platforms by 0.8% during the third quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock valued at $1,359,000 after purchasing an additional 14 shares during the period. Finally, Vista Capital Partners Inc. boosted its position in shares of Meta Platforms by 1.3% during the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after purchasing an additional 14 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. BNP Paribas started coverage on Meta Platforms in a research note on Monday, November 24th. They set an “outperform” rating and a $800.00 price target on the stock. Mizuho lowered their target price on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Cantor Fitzgerald reduced their price target on shares of Meta Platforms from $830.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Zacks Research lowered shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Meta Platforms in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $820.22.

Meta Platforms Price Performance

META opened at $663.29 on Friday. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The company has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 1.37 and a beta of 1.28. The firm’s fifty day moving average price is $654.81 and its two-hundred day moving average price is $706.27.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. During the same period last year, the firm earned $6.03 earnings per share. The firm’s revenue was up 26.2% on a year-over-year basis. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 2,610 shares of the company’s stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the completion of the transaction, the chief operating officer owned 9,784 shares in the company, valued at $5,962,956.64. This represents a 21.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the sale, the chief technology officer directly owned 2,415 shares of the company’s stock, valued at approximately $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 42,074 shares of company stock worth $26,359,548. 13.61% of the stock is owned by insiders.

Meta Platforms Company Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.