SMART Wealth LLC Purchases 480 Shares of Meta Platforms, Inc. (NASDAQ:META)

SMART Wealth LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 53.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,374 shares of the social networking company’s stock after purchasing an additional 480 shares during the quarter. SMART Wealth LLC’s holdings in Meta Platforms were worth $787,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC increased its position in Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after buying an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after acquiring an additional 208,677 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on META shares. BMO Capital Markets raised their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Rosenblatt Securities restated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Citigroup boosted their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, TD Cowen upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $635.20.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Insiders have sold 214,002 shares of company stock valued at $126,740,653 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $620.35 on Monday. The stock’s 50 day simple moving average is $583.97 and its 200-day simple moving average is $538.27. Meta Platforms, Inc. has a 1-year low of $328.64 and a 1-year high of $638.40. 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 company has a market cap of $1.57 trillion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Meta Platforms 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.