Hoxton Planning & Management LLC Raises Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Hoxton Planning & Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,240 shares of the social networking company’s stock after purchasing an additional 172 shares during the quarter. Meta Platforms comprises approximately 0.7% of Hoxton Planning & Management LLC’s portfolio, making the stock its 29th biggest holding. Hoxton Planning & Management LLC’s holdings in Meta Platforms were worth $1,855,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Delos Wealth Advisors LLC grew its position in Meta Platforms by 527.3% during the first 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 last quarter. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. lifted its stake 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 worth $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms during the first quarter valued at about $44,000. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 266,332 shares of company stock valued at $139,981,833. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 1.4 %

NASDAQ META opened at $592.89 on Wednesday. The firm’s 50-day moving average is $532.05 and its two-hundred day moving average is $503.76. 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 12 month low of $279.40 and a 12 month high of $602.95. The stock has a market capitalization of $1.50 trillion, a P/E ratio of 34.05, a PEG ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (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 firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the company earned $3.23 EPS. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Wall Street Analysts Forecast Growth

META has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $660.00 target price on shares of Meta Platforms in a research note on Monday. Susquehanna increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Wolfe Research began coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective on the stock. Finally, JMP Securities increased their target price on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, two 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $601.08.

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.