Trajan Wealth LLC Has $56.08 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Trajan Wealth LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 97,967 shares of the social networking company’s stock after acquiring an additional 1,427 shares during the period. Meta Platforms makes up approximately 3.3% of Trajan Wealth LLC’s portfolio, making the stock its 5th biggest position. Trajan Wealth LLC’s holdings in Meta Platforms were worth $56,080,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Delos Wealth Advisors LLC increased its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. increased its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. raised its position in 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 during the last quarter. Finally, Halpern Financial Inc. acquired a new position in Meta Platforms during the 3rd quarter worth about $46,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 420 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the sale, the chief executive officer now owns 518,004 shares in the company, valued at approximately $310,890,460.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Mark Zuckerberg sold 420 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the transaction, the chief executive officer now directly owns 518,004 shares of the company’s stock, valued at $310,890,460.68. This represents 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, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50. Following the sale, the insider now owns 31,482 shares of the company’s stock, valued at approximately $18,262,708.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 251,993 shares of company stock worth $133,271,982 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. KeyCorp raised their price objective on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. BMO Capital Markets upped their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research note on Thursday. Finally, UBS Group boosted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Down 0.1 %

Meta Platforms stock opened at $567.16 on Friday. 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 stock has a market cap of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $308.33 and a fifty-two week high of $602.95. The firm’s 50-day simple moving average is $555.99 and its 200 day simple moving average is $513.03.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. Research analysts predict that Meta Platforms, Inc. will post 21.47 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced 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 of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio 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.