Abacus Planning Group Inc. Has $2.32 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Abacus Planning Group Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,044 shares of the social networking company’s stock after buying an additional 129 shares during the quarter. Abacus Planning Group Inc.’s holdings in Meta Platforms were worth $2,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Delos Wealth Advisors LLC raised 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 buying an additional 58 shares during the last quarter. 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 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 last quarter. Richardson Financial Services Inc. grew its position in Meta Platforms by 95.6% in 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 Meta Platforms in the 1st quarter valued at about $44,000. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 8,727 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $528.87, for a total transaction of $4,615,448.49. Following the completion of the sale, the chief executive officer now owns 178,099 shares of the company’s stock, valued at $94,191,218.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 8,727 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $528.87, for a total transaction of $4,615,448.49. Following the completion of the sale, the chief executive officer now directly owns 178,099 shares in the company, valued at $94,191,218.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Insiders sold 308,462 shares of company stock worth $162,308,065 in the last ninety days. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.6 %

NASDAQ META opened at $572.81 on Thursday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $521.88 and its two-hundred day simple moving average is $501.35. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $583.04. The company has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 32.90, a PEG ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 EPS. Research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

META has been the subject of several recent analyst reports. Citigroup upped their target price on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Oppenheimer lifted their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler lifted their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $598.08.

Meta Platforms Company 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.