Wiser Advisor Group LLC Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Wiser Advisor Group LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.8% during the third quarter, HoldingsChannel reports. The firm owned 3,134 shares of the social networking company’s stock after purchasing an additional 24 shares during the period. Meta Platforms comprises 2.7% of Wiser Advisor Group LLC’s portfolio, making the stock its 12th largest holding. Wiser Advisor Group LLC’s holdings in Meta Platforms were worth $1,794,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of META. Associated Banc Corp lifted its holdings in Meta Platforms by 1.4% during the third quarter. Associated Banc Corp now owns 79,823 shares of the social networking company’s stock worth $45,694,000 after buying an additional 1,091 shares during the period. Truvestments Capital LLC raised its position in shares of Meta Platforms by 8.3% in the 3rd quarter. Truvestments Capital LLC now owns 1,648 shares of the social networking company’s stock worth $943,000 after acquiring an additional 126 shares in the last quarter. Alliance Wealth Management Group lifted its stake in shares of Meta Platforms by 12.4% during the 3rd quarter. Alliance Wealth Management Group now owns 1,356 shares of the social networking company’s stock worth $776,000 after purchasing an additional 150 shares during the last quarter. Boston Family Office LLC boosted its position in Meta Platforms by 24.7% during the third quarter. Boston Family Office LLC now owns 2,036 shares of the social networking company’s stock valued at $1,165,000 after purchasing an additional 403 shares in the last quarter. Finally, Blue Whale Capital LLP grew its stake in Meta Platforms by 32.4% in the third quarter. Blue Whale Capital LLP now owns 137,129 shares of the social networking company’s stock valued at $78,498,000 after purchasing an additional 33,529 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Roth Mkm lifted their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Oppenheimer increased their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company lowered their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, BMO Capital Markets upped their target price on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms Trading Up 1.5 %

Shares of Meta Platforms stock opened at $573.54 on Wednesday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The firm’s 50-day moving average price is $573.38 and its 200 day moving average price is $525.35. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.45 trillion, a PE ratio of 27.02, a P/E/G ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.62 EPS 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 paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $521.35, for a total transaction of $215,317.55. Following the sale, the chief operating officer now owns 14,011 shares of the company’s stock, valued at approximately $7,304,634.85. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 4,909 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $519.17, for a total value of $2,548,605.53. Following the completion of the transaction, the chief executive officer now owns 519,000 shares of the company’s stock, valued at $269,449,230. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,656 shares of company stock worth $61,933,867 in the last three months. 13.71% of the stock is owned by corporate insiders.

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.