Meta Platforms, Inc. (NASDAQ:META) Position Increased by BCS Wealth Management

BCS Wealth Management lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 899 shares of the social networking company’s stock after buying an additional 45 shares during the quarter. BCS Wealth Management’s holdings in Meta Platforms were worth $515,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of META. Kozak & Associates Inc. lifted its holdings in Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares during the last quarter. Howard Capital Management Group LLC lifted its holdings in shares of Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after purchasing an additional 251 shares during the last quarter. LexAurum Advisors LLC boosted its position in Meta Platforms by 1.5% during the 3rd quarter. LexAurum Advisors LLC now owns 1,859 shares of the social networking company’s stock valued at $1,064,000 after purchasing an additional 27 shares during the period. DiNuzzo Private Wealth Inc. grew its stake in Meta Platforms by 64.6% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 298 shares of the social networking company’s stock worth $171,000 after buying an additional 117 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC increased its position in Meta Platforms by 1.4% in the third quarter. Onyx Bridge Wealth Group LLC now owns 4,958 shares of the social networking company’s stock worth $2,838,000 after buying an additional 67 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the completion of the transaction, the insider now owns 33,292 shares of the company’s stock, valued at $19,641,281.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,816 shares of company stock valued at $132,421,828. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.1 %

META opened at $576.47 on Friday. The company has a market capitalization of $1.46 trillion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The business has a 50-day moving average of $546.53 and a 200-day moving average of $508.68.

Meta Platforms (NASDAQ:META) last announced its quarterly 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 for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.23 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on META. JMP Securities upped their price target on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 26th. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Citigroup lifted their price target on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Finally, TD Cowen boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $617.37.

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.