Financial Security Advisor Inc. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,177 shares of the social networking company’s stock after buying an additional 54 shares during the period. Financial Security Advisor Inc.’s holdings in Meta Platforms were worth $1,246,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Delos Wealth Advisors LLC grew its position in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. increased its position in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. bought a new position in Meta Platforms in the 3rd quarter valued at approximately $46,000. 79.91% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently weighed in on META shares. Roth Mkm raised their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Guggenheim raised their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Oppenheimer raised their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Barclays increased their price objective on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.
Get Our Latest Report on META
Meta Platforms Stock Down 0.4 %
META stock opened at $589.34 on Friday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The stock has a fifty day moving average of $560.42 and a 200-day moving average of $515.25. The company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.24 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued 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 yield of 0.34%. Meta Platforms’s payout ratio is 9.42%.
Insiders Place Their Bets
In other news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now directly owns 30,581 shares in the company, valued at approximately $17,360,833.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Andrew Bosworth sold 5,057 shares of the 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 directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the transaction, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,118 shares of company stock worth $121,237,935 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.
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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