Highline Wealth Partners LLC Buys Shares of 13,271 Meta Platforms, Inc. (NASDAQ:META)

Highline Wealth Partners LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 13,271 shares of the social networking company’s stock, valued at approximately $7,597,000. Meta Platforms makes up 2.5% of Highline Wealth Partners LLC’s investment portfolio, making the stock its 10th largest position.

Other large investors have also made changes to their positions in the company. Delos Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. raised its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. lifted its stake in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the last quarter. Finally, Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter worth $46,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.1 %

NASDAQ:META opened at $567.16 on Friday. The stock’s fifty day moving average price is $555.99 and its two-hundred day moving average price is $513.03. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 1.44 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $308.33 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. On average, analysts anticipate that Meta Platforms, Inc. will post 21.47 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

META has been the topic of several recent analyst reports. Tigress Financial lifted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus raised their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. Barclays upped their price target on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 6,534 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $505.04, for a total value of $3,299,931.36. Following the transaction, the chief executive officer now owns 116,108 shares of the company’s stock, valued at $58,639,184.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Mark Zuckerberg sold 6,534 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $505.04, for a total value of $3,299,931.36. Following the completion of the sale, the chief executive officer now owns 116,108 shares in the company, valued at approximately $58,639,184.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total value of $524,990.50. Following the transaction, the insider now owns 31,482 shares in the company, valued at approximately $18,262,708.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,993 shares of company stock valued at $133,271,982. 13.71% of the stock is currently owned by insiders.

Meta Platforms 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.