Octavia Wealth Advisors LLC Has $2.65 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Octavia Wealth Advisors LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,624 shares of the social networking company’s stock after buying an additional 208 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,647,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares during the last quarter. Capital World Investors lifted its stake in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the last quarter. Capital Research Global Investors raised its position in Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Jennison Associates LLC raised its position in Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC raised its position in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after purchasing an additional 342,742 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 1,712 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $502.27, for a total value of $859,886.24. Following the transaction, the chief executive officer now owns 129,888 shares in the company, valued at $65,238,845.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 1,712 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the sale, the chief executive officer now directly owns 129,888 shares of the company’s stock, valued at $65,238,845.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $474.86, for a total transaction of $195,642.32. Following the sale, the chief operating officer now directly owns 5,971 shares of the company’s stock, valued at approximately $2,835,389.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 252,443 shares of company stock worth $133,105,284 in the last quarter. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Jefferies Financial Group raised their target price on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets raised their target price on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research report on Wednesday. Tigress Financial raised their target price on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Finally, TD Cowen lifted their price objective on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, three 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $609.71.

Meta Platforms Stock Performance

Shares of META stock opened at $589.95 on Friday. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The company’s 50-day moving average is $538.12 and its 200 day moving average is $505.52. The company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. 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 announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.23 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 10.21%.

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.