Henrickson Nauta Wealth Advisors Inc. Boosts Stake in Meta Platforms, Inc. (NASDAQ:META)

by · The Cerbat Gem

Henrickson Nauta Wealth Advisors Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,280 shares of the social networking company’s stock after buying an additional 47 shares during the quarter. Henrickson Nauta Wealth Advisors Inc.’s holdings in Meta Platforms were worth $733,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of META. Capital Research Global Investors boosted its holdings 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 valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Vanguard Group Inc. lifted its position in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms in the second quarter worth about $595,152,000. Finally, Global Assets Advisory LLC bought a new position in shares of Meta Platforms in the first quarter worth about $515,383,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CEO Mark Zuckerberg sold 1,712 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the transaction, the chief executive officer now directly owns 129,888 shares in the company, valued at approximately $65,238,845.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 1,712 shares of Meta Platforms stock in a transaction 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 completion of the transaction, the chief executive officer now owns 129,888 shares of the company’s stock, valued at approximately $65,238,845.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 252,443 shares of company stock valued at $133,105,284 in the last quarter. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Guggenheim boosted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Wolfe Research started coverage on Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target for the company. Citigroup raised their price objective on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Pivotal Research began coverage on Meta Platforms in a report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 target price for the company. Finally, UBS Group increased their price target on Meta Platforms from $635.00 to $690.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Two research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $611.49.

Get Our Latest Stock Report on META

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $4.07 during trading on Monday, hitting $594.02. The stock had a trading volume of 2,936,378 shares, compared to its average volume of 15,297,021. The stock has a 50-day simple moving average of $538.12 and a two-hundred day simple moving average of $505.67. The stock has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. 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 – Get Free Report) 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. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the business posted $3.23 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal 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 paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s payout ratio is currently 11.49%.

Meta Platforms Company Profile

(Free Report)

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.

See Also

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