StoneCrest Wealth Management Inc. Has $4.93 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

StoneCrest Wealth Management Inc. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,620 shares of the social networking company’s stock after purchasing an additional 282 shares during the quarter. Meta Platforms comprises about 3.6% of StoneCrest Wealth Management Inc.’s holdings, making the stock its 10th largest position. StoneCrest Wealth Management Inc.’s holdings in Meta Platforms were worth $4,934,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in META. Central Valley Advisors LLC lifted its holdings in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares in the last quarter. S.A. Mason LLC boosted its holdings in Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the period. Front Row Advisors LLC grew its position in shares of Meta Platforms by 5.7% during the 2nd quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock valued at $187,000 after purchasing an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares during the period. Finally, Northern Capital Management Inc. raised its position in shares of Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus boosted their target price on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America upped their price objective on shares of Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Piper Sandler lifted their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Guggenheim increased their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $601.08.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 14,874 shares of Meta Platforms stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $503.38, for a total transaction of $7,487,274.12. Following the transaction, the chief executive officer now directly owns 135,442 shares of the company’s stock, valued at approximately $68,178,793.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 266,332 shares of company stock valued at $139,981,833. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $592.89 on Wednesday. The business has a 50 day moving average of $532.05 and a 200 day moving average of $503.76. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The company has a market cap of $1.50 trillion, a PE ratio of 34.05, a P/E/G ratio of 1.39 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.23 EPS. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.