Meta Platforms, Inc. (NASDAQ:META) is Napa Wealth Management's 5th Largest Position

Napa Wealth Management grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 381.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,620 shares of the social networking company's stock after buying an additional 6,038 shares during the period. Meta Platforms accounts for approximately 2.1% of Napa Wealth Management's holdings, making the stock its 5th biggest holding. Napa Wealth Management's holdings in Meta Platforms were worth $4,362,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in META. China Universal Asset Management Co. Ltd. grew its stake in shares of Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company's stock valued at $23,886,000 after buying an additional 16,138 shares during the period. Cypress Asset Management Inc. TX boosted its position in Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company's stock worth $1,862,000 after purchasing an additional 3,224 shares during the period. Natixis boosted its position in Meta Platforms by 126.0% during the 1st quarter. Natixis now owns 455,820 shares of the social networking company's stock worth $221,337,000 after purchasing an additional 254,166 shares during the period. Leelyn Smith LLC purchased a new stake in Meta Platforms during the 1st quarter worth $270,000. Finally, Crewe Advisors LLC purchased a new stake in Meta Platforms during the 1st quarter worth $3,143,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

META has been the subject of a number of research reports. Truist Financial upped their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Evercore ISI upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. DA Davidson started coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a "buy" rating and a $600.00 price target for the company. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, Robert W. Baird upped their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $634.10.

Insider Activity

In related news, CAO Aaron Anderson sold 731 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total transaction of $469,740.25. Following the sale, the insider now owns 39,627 shares of the company's stock, valued at $20,568,394.35. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,958 shares of company stock worth $101,181,747 over the last three months. Corporate insiders own 13.71% of the company's stock.

Meta Platforms Price Performance

NASDAQ META opened at $565.52 on Thursday. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The company has a 50-day moving average price of $571.30 and a two-hundred day moving average price of $523.03.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analysts' expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.

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.