McGlone Suttner Wealth Management Inc. Increases Position in Meta Platforms, Inc. (NASDAQ:META)

McGlone Suttner Wealth Management Inc. raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 16.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,645 shares of the social networking company’s stock after acquiring an additional 503 shares during the quarter. Meta Platforms makes up about 0.4% of McGlone Suttner Wealth Management Inc.’s holdings, making the stock its 27th largest holding. McGlone Suttner Wealth Management Inc.’s holdings in Meta Platforms were worth $2,087,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of META. Johnson Bixby & Associates LLC lifted its stake in Meta Platforms by 8.6% during the 3rd quarter. Johnson Bixby & Associates LLC now owns 2,530 shares of the social networking company’s stock worth $1,448,000 after acquiring an additional 200 shares in the last quarter. Factory Mutual Insurance Co. grew its position in shares of Meta Platforms by 2.7% in the 3rd quarter. Factory Mutual Insurance Co. now owns 350,041 shares of the social networking company’s stock valued at $200,377,000 after buying an additional 9,051 shares during the last quarter. Crestmont Private Wealth LLC acquired a new position in Meta Platforms during the third quarter worth approximately $218,000. Renaissance Investment Group LLC raised its holdings in shares of Meta Platforms by 5.0% in the third quarter. Renaissance Investment Group LLC now owns 9,104 shares of the social networking company’s stock valued at $5,212,000 after buying an additional 435 shares during the last quarter. Finally, Shaker Investments LLC OH grew its position in Meta Platforms by 93.1% in the 3rd quarter. Shaker Investments LLC OH now owns 7,549 shares of the social networking company’s stock valued at $4,321,000 after buying an additional 3,640 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 1.0 %

Shares of META traded up $6.12 during trading hours on Friday, reaching $589.95. 8,587,051 shares of the company traded hands, compared to its average volume of 15,361,877. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The company has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company’s fifty day moving average price is $538.12 and its two-hundred day moving average price is $505.59. 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 (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping 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 business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the company posted $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities research analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed 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. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Ratings Changes

Several brokerages have issued reports on META. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Robert W. Baird increased their price target on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Raymond James boosted their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a report on Thursday. Tigress Financial boosted their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Finally, BMO Capital Markets increased 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $609.71.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction 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 owns 34,197 shares of the company’s stock, valued at approximately $20,172,468.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms 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 transaction, the insider now directly owns 34,197 shares in the company, valued at approximately $20,172,468.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 1,712 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $502.27, for a total value of $859,886.24. Following the completion of the sale, the chief executive officer now directly owns 129,888 shares of the company’s stock, valued at $65,238,845.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,443 shares of company stock worth $133,105,284 in the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Company 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.