Meta Platforms, Inc. (NASDAQ:META) Holdings Increased by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 16.3% in the 3rd quarter, Holdings Channel reports. The fund owned 5,484 shares of the social networking company’s stock after buying an additional 768 shares during the period. Meta Platforms makes up 2.9% of Precision Wealth Strategies LLC’s investment portfolio, making the stock its 7th largest position. Precision Wealth Strategies LLC’s holdings in Meta Platforms were worth $3,139,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Delos Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted 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 acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. grew its position 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 valued at $41,000 after acquiring an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Meta Platforms in the 1st quarter valued at about $44,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Down 3.1 %

NASDAQ:META opened at $563.69 on Thursday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The stock’s fifty day moving average is $548.79 and its two-hundred day moving average is $509.61. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

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. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.23 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued 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 currently 11.49%.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the transaction, the chief operating officer now owns 5,147 shares of the company’s stock, valued at $2,684,057.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $521.48, for a total value of $214,849.76. Following the transaction, the chief operating officer now directly owns 5,147 shares of the company’s stock, valued at approximately $2,684,057.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,912 shares of company stock valued at $132,027,612 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Robert W. Baird raised their price objective on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Guggenheim boosted their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Raymond James raised their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $619.20.

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.