Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Maxwell Wealth Strategies Inc.

Maxwell Wealth Strategies Inc. boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 21.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,262 shares of the social networking company’s stock after purchasing an additional 1,302 shares during the quarter. Meta Platforms makes up 1.8% of Maxwell Wealth Strategies Inc.’s portfolio, making the stock its 16th biggest holding. Maxwell Wealth Strategies Inc.’s holdings in Meta Platforms were worth $4,157,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in META. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. increased its stake in Meta Platforms by 122.2% during 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 last quarter. Halpern Financial Inc. acquired a new stake in Meta Platforms during the third quarter worth about $46,000. West Financial Advisors LLC acquired a new stake in Meta Platforms during the third quarter worth about $49,000. Finally, NewSquare Capital LLC increased its stake in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $533.24, for a total transaction of $8,906,174.48. Following the transaction, the chief executive officer now directly owns 28,838 shares in the company, valued at approximately $15,377,575.12. This trade represents a 36.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. This trade represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,593 shares of company stock worth $75,253,970. 13.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on META shares. Scotiabank dropped their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group upped their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Citigroup upped their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus upped their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Up 0.1 %

META opened at $554.40 on Tuesday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market cap of $1.40 trillion, a P/E ratio of 26.11, a P/E/G ratio of 1.23 and a beta of 1.22. The stock’s 50 day moving average price is $569.10 and its 200 day moving average price is $521.96.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.