Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Waldron Private Wealth LLC

Waldron Private Wealth LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,964 shares of the social networking company’s stock after purchasing an additional 526 shares during the period. Waldron Private Wealth LLC’s holdings in Meta Platforms were worth $15,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. G&S Capital LLC purchased a new position in Meta Platforms during the first quarter worth approximately $218,000. Aspiriant LLC grew its stake in Meta Platforms by 13.9% in the 1st quarter. Aspiriant LLC now owns 13,355 shares of the social networking company’s stock valued at $6,485,000 after acquiring an additional 1,633 shares during the period. RFG Holdings Inc. purchased a new stake in Meta Platforms in the 1st quarter worth $512,000. Defined Wealth Management LLC acquired a new position in Meta Platforms during the first quarter worth $240,000. Finally, DGS Capital Management LLC lifted its holdings in Meta Platforms by 15.7% during the first quarter. DGS Capital Management LLC now owns 12,364 shares of the social networking company’s stock valued at $6,004,000 after purchasing an additional 1,681 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of META stock opened at $567.78 on Friday. The company has a market cap of $1.44 trillion, a P/E ratio of 32.61, a PEG ratio of 1.45 and a beta of 1.22. The firm has a fifty day moving average price of $549.53 and a 200 day moving average price of $509.99. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the firm posted $3.23 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given 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 of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Analyst Ratings Changes

Several research analysts recently weighed in on META shares. Evercore ISI upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Wedbush reissued an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Tigress Financial lifted their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their target price on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $619.20.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $521.48, for a total transaction of $214,849.76. Following the completion of the transaction, the chief operating officer now owns 5,147 shares in the company, 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 sold 250,817 shares of company stock worth $132,547,715 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

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.