Meta Platforms, Inc. (NASDAQ:META) is Stableford Capital II LLC’s 9th Largest Position

Stableford Capital II LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,940 shares of the social networking company’s stock after buying an additional 1,478 shares during the period. Meta Platforms makes up approximately 2.5% of Stableford Capital II LLC’s holdings, making the stock its 9th largest holding. Stableford Capital II LLC’s holdings in Meta Platforms were worth $6,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of META. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the second quarter valued at about $38,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% during the second 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 during the period. Richardson Financial Services Inc. grew its stake in shares of Meta Platforms by 95.6% in the first 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 during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in Meta Platforms during the 1st quarter valued at about $44,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Susquehanna increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. BMO Capital Markets raised their price target on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 9th. Citigroup boosted their price objective on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company raised their target price on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Tigress Financial lifted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $613.71.

Meta Platforms Trading Down 1.6 %

NASDAQ:META opened at $576.79 on Thursday. The company has a market cap of $1.46 trillion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a 50 day simple moving average of $544.01 and a two-hundred day simple moving average of $507.60. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. Research analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Transactions at Meta Platforms

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 shares were 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 directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the sale, the chief operating officer now owns 5,559 shares of the company’s stock, valued at $2,573,817. 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 249,911 shares of company stock worth $131,887,905 in the last quarter. Company insiders own 13.71% of the company’s stock.

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.