Guardian Financial Partners Boosts Meta Holdings by 23% to $663,000

Guardian Financial Partners LLC has increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 23% during the second quarter of 2023, as revealed in the firm’s latest Form 13F filing with the Securities and Exchange Commission. The investment firm now holds 898 shares of the prominent social networking company, valued at approximately $663,000 following the acquisition of an additional 168 shares during the quarter.

A number of other institutional investors have also adjusted their positions in Meta. For instance, MJT & Associates Financial Advisory Group Inc. entered a new position in the first quarter, investing around $33,000. Evergreen Private Wealth LLC significantly increased its stake by 237.5% in the second quarter, acquiring 54 shares valued at $40,000 after purchasing 38 additional shares. Other notable transactions include Briaud Financial Planning Inc., which bought shares worth approximately $42,000, and WFA Asset Management Corp., which raised its stake by 42.6%, now holding 67 shares valued at $49,000 after acquiring 20 shares.

Currently, institutional investors and hedge funds collectively own 79.91% of Meta Platforms’ stock, reflecting a strong interest from larger financial entities.

Meta’s Stock Performance and Recent Earnings

On Wednesday, shares of Meta Platforms opened at $627.32. The company boasts a market capitalization of $1.58 trillion and a price-to-earnings (P/E) ratio of 27.71. The stock has experienced a 52-week low of $479.80 and a high of $796.25.

Meta recently announced its quarterly earnings, revealing earnings per share (EPS) of $7.25 for the third quarter, surpassing analysts’ expectations of $6.74 by $0.51. The company generated revenue of $51.24 billion for the quarter, exceeding analyst estimates of $49.34 billion. This marked a year-over-year revenue increase of 26.2%. In the same quarter last year, Meta reported an EPS of $6.03. The company has projected its Q4 2025 guidance at EPS of $26.7.

In addition to strong earnings, Meta Platforms announced a quarterly dividend of $0.525, which was paid on September 29, 2023, to stockholders of record as of September 22, 2023. This amounts to an annualized dividend of $2.10 and a yield of 0.3%. The company’s dividend payout ratio currently stands at 9.28%.

Analyst Ratings and Insider Transactions

Recent reports from various brokerages indicate a mixed outlook for Meta’s stock. Mizuho has decreased its target price from $925.00 to $815.00 while maintaining an “outperform” rating. Conversely, JMP Securities raised its target from $750.00 to $900.00, also rating the stock as “market outperform.” Barclays has decreased its target price from $810.00 to $770.00, maintaining an “overweight” rating, while Sanford C. Bernstein has reaffirmed an “outperform” rating with a target of $870.00.

Overall, four analysts have rated Meta with a Strong Buy, while thirty-seven have given it a Buy rating, resulting in a consensus rating of “Moderate Buy” and an average target price of $827.60.

In terms of insider transactions, Chief Operating Officer Javier Olivan sold 517 shares on October 27, 2023, at an average price of $749.57, totaling $387,527.69. Following this transaction, Olivan retains approximately 7,958 shares valued at around $5,965,078.06, reflecting a decrease of 6.10% in his holdings. Additionally, Director Robert M. Kimmitt sold 465 shares on October 15, 2023, for a total of $333,391.05, resulting in a 5.53% decrease in his position.

In the last quarter alone, insiders have offloaded 90,609 shares of Meta’s stock, valued at approximately $69,806,640, with insiders currently holding 13.61% of the company’s stock.

Meta Platforms, Inc. is known for its development of products that facilitate communication and sharing among users via various platforms including Facebook, Instagram, Messenger, and WhatsApp. The company operates primarily in two segments: Family of Apps and Reality Labs, catering to a global audience through mobile devices, personal computers, and virtual reality headsets.

As the market continues to evolve, the performance and strategic decisions of Meta Platforms will be closely monitored by investors and analysts alike.