Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Secure Asset Management LLC

Secure Asset Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,366 shares of the social networking company’s stock after acquiring an additional 492 shares during the quarter. Meta Platforms accounts for about 1.8% of Secure Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Secure Asset Management LLC’s holdings in Meta Platforms were worth $10,513,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of META. Delos Wealth Advisors LLC raised its stake in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Meta Platforms during the 1st quarter worth about $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on META shares. Monness Crespi & Hardt raised their price objective on Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Rosenblatt Securities raised their price objective on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Scotiabank started coverage on Meta Platforms in a research note on Friday, October 11th. They issued a “sector perform” rating and a $585.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday. Finally, Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $617.37.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the sale, the insider now owns 35,130 shares of the company’s stock, valued at approximately $17,206,674. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,816 shares of company stock worth $132,421,828. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of META stock opened at $576.47 on Friday. The stock’s fifty day simple moving average is $546.53 and its 200 day simple moving average is $508.68. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95.

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, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the firm earned $3.23 EPS. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

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.