Code Waechter LLC Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Code Waechter LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 853 shares of the social networking company’s stock, valued at approximately $488,000.

Other institutional investors also recently modified their holdings of the company. Delos Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Richardson Financial Services Inc. boosted its holdings in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms during the 1st quarter worth approximately $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total value of $533,850.45. Following the sale, the insider now owns 34,197 shares in the company, valued at approximately $20,172,468.33. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total value of $533,850.45. Following the sale, the insider now directly owns 34,197 shares of the company’s stock, valued at $20,172,468.33. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now directly owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,443 shares of company stock valued at $133,105,284. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

META traded up $6.12 on Friday, hitting $589.95. The company’s stock had a trading volume of 8,587,051 shares, compared to its average volume of 15,361,877. The company’s 50 day simple moving average is $538.12 and its 200-day simple moving average is $505.52. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The firm has a market cap of $1.49 trillion, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the business earned $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. 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 currently 10.21%.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. Evercore ISI increased their price objective 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. TD Cowen boosted their price objective on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Robert W. Baird lifted their target price on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. TD Securities increased their price target on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Finally, BMO Capital Markets raised their price objective on shares of Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $609.71.

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.