Integrated Wealth Concepts LLC Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Integrated Wealth Concepts LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,516 shares of the social networking company’s stock after buying an additional 1,820 shares during the period. Integrated Wealth Concepts LLC’s holdings in Meta Platforms were worth $31,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. boosted 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 worth $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new position in Meta Platforms in the third quarter valued at $46,000. West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the 3rd quarter worth about $49,000. Finally, NewSquare Capital LLC raised its holdings in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.4 %

Meta Platforms stock opened at $594.97 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $1.50 trillion, a P/E ratio of 27.92, a PEG ratio of 1.27 and a beta of 1.20. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The stock has a 50-day simple moving average of $575.21 and a 200 day simple moving average of $528.08.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping 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 firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on META shares. DA Davidson initiated coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price on the stock. Piper Sandler raised their target price on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. 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, October 31st. KeyCorp lifted their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, UBS Group increased their price target on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

Insider Activity

In other news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the transaction, the chief financial officer now owns 51,591 shares in the company, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the transaction, the insider now directly owns 338,662 shares in the company, valued at $188,810,838.24. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,334 shares of company stock worth $59,210,941. Corporate insiders own 13.71% of the company’s stock.

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.