Castle Rock Wealth Management LLC Purchases 58 Shares of Meta Platforms, Inc. (NASDAQ:META)

by · The Cerbat Gem

Castle Rock Wealth Management LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,567 shares of the social networking company’s stock after acquiring an additional 58 shares during the period. Meta Platforms accounts for about 2.1% of Castle Rock Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Castle Rock Wealth Management LLC’s holdings in Meta Platforms were worth $8,652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors raised its position in shares of Meta Platforms by 14.5% in the first 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 purchasing an additional 4,379,826 shares during the period. Vanguard Group Inc. increased its holdings in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares during the period. Jennison Associates LLC grew its holdings in shares of 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 valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP bought a new stake in shares of Meta Platforms during the 2nd quarter valued at approximately $595,152,000. Finally, Global Assets Advisory LLC acquired a new stake in Meta Platforms during the 1st quarter worth approximately $515,383,000. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,712 shares of the firm’s 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 completion of the transaction, the chief executive officer now 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 at this link. In other news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 1,712 shares of Meta Platforms stock in a transaction 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 sale, the chief executive officer now directly owns 129,888 shares of the company’s stock, valued at approximately $65,238,845.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,443 shares of company stock valued at $133,105,284 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Tigress Financial boosted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Piper Sandler upped their price objective on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Roth Mkm increased their price target on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird increased their price target on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Loop Capital upped their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $609.71.

Check Out Our Latest Research Report on META

Meta Platforms Price Performance

Shares of NASDAQ META traded down $0.24 during midday trading on Friday, hitting $583.59. The stock had a trading volume of 2,878,130 shares, compared to its average volume of 15,332,989. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The company has a market capitalization of $1.48 trillion, a PE ratio of 29.97, a P/E/G ratio of 1.45 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. The stock has a 50 day simple moving average of $536.08 and a 200-day simple moving average of $504.92.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.23 earnings per share. On average, sell-side analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given 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 is presently 10.21%.

Meta Platforms 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.

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