Muirfield Wealth Advisors LLC Purchases 350 Shares of Meta Platforms, Inc. (NASDAQ:META)

Muirfield Wealth Advisors LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 15.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,561 shares of the social networking company’s stock after acquiring an additional 350 shares during the quarter. Meta Platforms accounts for about 1.2% of Muirfield Wealth Advisors LLC’s holdings, making the stock its 18th largest position. Muirfield Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,466,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of META. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in Meta Platforms by 3.8% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,280 shares of the social networking company’s stock valued at $733,000 after purchasing an additional 47 shares in the last quarter. Granite Harbor Advisors Inc. boosted its stake in shares of Meta Platforms by 1.1% in the 3rd quarter. Granite Harbor Advisors Inc. now owns 6,672 shares of the social networking company’s stock valued at $3,819,000 after purchasing an additional 74 shares in the last quarter. Constitution Capital LLC grew its holdings in shares of Meta Platforms by 46.2% in the 3rd quarter. Constitution Capital LLC now owns 1,740 shares of the social networking company’s stock worth $996,000 after purchasing an additional 550 shares during the last quarter. Adamsbrown Wealth Consultants LLC increased its position in shares of Meta Platforms by 1.2% during the 3rd quarter. Adamsbrown Wealth Consultants LLC now owns 1,732 shares of the social networking company’s stock worth $992,000 after purchasing an additional 20 shares in the last quarter. Finally, Cherrydale Wealth Management LLC increased its position in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday. Scotiabank assumed coverage on shares of Meta Platforms in a research report on Friday. They set a “sector perform” rating and a $585.00 price target on the stock. Roth Mkm boosted their target price on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler increased their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $660.00 price objective on shares of Meta Platforms in a research report on Monday, October 7th. Two 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $611.49.

Meta Platforms Stock Up 0.7 %

NASDAQ META traded up $4.08 during trading hours on Monday, hitting $594.03. 3,039,195 shares of the company traded hands, compared to its average volume of 15,299,731. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The business’s 50-day moving average is $538.12 and its 200-day moving average is $505.67. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The stock has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued 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. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.23 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

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 $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 1,712 shares of Meta Platforms stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the sale, the chief executive officer now owns 129,888 shares of the company’s stock, valued at approximately $65,238,845.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $474.86, for a total value of $195,642.32. Following the completion of the transaction, the chief operating officer now directly owns 5,971 shares of the company’s stock, valued at $2,835,389.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 1,712 shares of the 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 sale, the chief executive officer now directly owns 129,888 shares in the company, valued at approximately $65,238,845.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 252,443 shares of company stock valued at $133,105,284 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

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.