BKM Wealth Management LLC Purchases Shares of 511 Meta Platforms, Inc. (NASDAQ:META)

BKM Wealth Management LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to its most recent filing with the SEC. The fund purchased 511 shares of the social networking company’s stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Parcion Private Wealth LLC increased its holdings in Meta Platforms by 8.6% in the 3rd quarter. Parcion Private Wealth LLC now owns 3,220 shares of the social networking company’s stock valued at $1,843,000 after acquiring an additional 255 shares during the last quarter. Outlook Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 2.3% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 2,488 shares of the social networking company’s stock worth $1,424,000 after buying an additional 57 shares during the last quarter. Lyell Wealth Management LP increased its holdings in shares of Meta Platforms by 1.3% in the 3rd quarter. Lyell Wealth Management LP now owns 49,130 shares of the social networking company’s stock worth $28,124,000 after buying an additional 650 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Meta Platforms by 6.1% in the 3rd quarter. Allworth Financial LP now owns 39,892 shares of the social networking company’s stock worth $22,836,000 after buying an additional 2,286 shares during the last quarter. Finally, Mayfair Advisory Group LLC increased its holdings in shares of Meta Platforms by 19.7% in the 3rd quarter. Mayfair Advisory Group LLC now owns 498 shares of the social networking company’s stock worth $297,000 after buying an additional 82 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the topic of a number of research reports. 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 report on Thursday, September 26th. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Citigroup upped their price target on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley upped their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $621.63.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction 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 approximately $2,684,057.56. 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 the SEC website. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction 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 approximately $2,684,057.56. 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 the SEC website. Also, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,817 shares of company stock worth $132,547,715 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $578.16 on Tuesday. The company has a market cap of $1.47 trillion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $296.86 and a twelve month high of $602.95. 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 company has a 50 day moving average of $552.03 and a two-hundred day moving average of $511.04.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate 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 net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $3.23 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

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.