Worth Financial Advisory Group LLC Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

Worth Financial Advisory Group LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,511 shares of the social networking company’s stock after buying an additional 55 shares during the period. Meta Platforms comprises about 0.8% of Worth Financial Advisory Group LLC’s portfolio, making the stock its 27th biggest position. Worth Financial Advisory Group LLC’s holdings in Meta Platforms were worth $1,438,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in META. Pallas Capital Advisors LLC increased its holdings in Meta Platforms by 12.8% in the third quarter. Pallas Capital Advisors LLC now owns 19,524 shares of the social networking company’s stock valued at $11,085,000 after buying an additional 2,208 shares during the last quarter. Strategic Wealth Investment Group LLC increased its holdings in shares of Meta Platforms by 27.3% in the 3rd quarter. Strategic Wealth Investment Group LLC now owns 43,270 shares of the social networking company’s stock valued at $24,944,000 after acquiring an additional 9,290 shares during the last quarter. Orrstown Financial Services Inc. raised its position in shares of Meta Platforms by 184.4% during the 3rd quarter. Orrstown Financial Services Inc. now owns 3,146 shares of the social networking company’s stock worth $1,801,000 after acquiring an additional 2,040 shares in the last quarter. Old Port Advisors lifted its stake in Meta Platforms by 10.4% during the third quarter. Old Port Advisors now owns 3,074 shares of the social networking company’s stock worth $1,760,000 after purchasing an additional 290 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Meta Platforms by 36.0% in the third quarter. Nisa Investment Advisors LLC now owns 782,081 shares of the social networking company’s stock valued at $447,694,000 after purchasing an additional 207,187 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on META. JMP Securities boosted their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday. TD Securities raised their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $634.37.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total value of $524,990.50. Following the transaction, the insider now owns 31,482 shares in the company, valued at approximately $18,262,708.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,573 shares of company stock valued at $133,019,910 over the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 4.1 %

Shares of META stock opened at $567.58 on Friday. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.60, a PEG ratio of 1.42 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $555.21 and a 200 day moving average price of $512.56. Meta Platforms, Inc. has a twelve month low of $296.86 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend 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%.

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.