Shorepoint Capital Partners LLC Makes New $6.70 Million Investment in Meta Platforms, Inc. $META

Shorepoint Capital Partners LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,124 shares of the social networking company’s stock, valued at approximately $6,700,000. Meta Platforms comprises approximately 1.3% of Shorepoint Capital Partners LLC’s portfolio, making the stock its 24th biggest position.

Several other large investors also recently made changes to their positions in META. Bare Financial Services Inc bought a new stake in Meta Platforms during the second quarter worth approximately $30,000. Evergreen Private Wealth LLC increased its holdings in shares of Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after buying an additional 38 shares in the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at $42,000. Knuff & Co LLC bought a new stake in shares of Meta Platforms during the 2nd quarter worth $44,000. Finally, WFA Asset Management Corp boosted its stake in shares of Meta Platforms by 42.6% during the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Roth Capital reaffirmed a “buy” rating on shares of Meta Platforms in a research report on Thursday, October 30th. Stifel Nicolaus dropped their price target on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Morgan Stanley cut their price objective on Meta Platforms from $820.00 to $750.00 and set an “overweight” rating on the stock in a report on Thursday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, October 30th. Finally, Royal Bank Of Canada dropped their target price on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $819.46.

Meta Platforms Price Performance

Shares of META opened at $657.15 on Wednesday. The company has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.36 and a beta of 1.28. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The business’s 50-day moving average is $663.44 and its 200-day moving average is $707.81.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. During the same period last year, the company posted $6.03 earnings per share. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.

Insider Buying and Selling at Meta Platforms

In other news, Director Robert M. Kimmitt sold 600 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the transaction, the director directly owned 7,347 shares of the company’s stock, valued at approximately $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 2,610 shares of the stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the sale, the chief operating officer owned 9,784 shares of the company’s stock, valued at approximately $5,962,956.64. This represents a 21.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,458 shares of company stock worth $25,436,200 over the last 90 days. 13.61% of the stock is currently owned by insiders.

Meta Platforms 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.