1,736 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Goldstone Financial Group LLC

Goldstone Financial Group LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,736 shares of the social networking company’s stock, valued at approximately $994,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the last quarter. Capital World Investors raised its position in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital Research Global Investors raised its position in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Jennison Associates LLC lifted its holdings in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC boosted its position in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Mark Zuckerberg sold 420 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the sale, the chief executive officer now directly owns 518,004 shares in the company, valued at approximately $310,890,460.68. 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 is accessible through the SEC website. In related news, CEO Mark Zuckerberg sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total transaction of $252,071.40. Following the transaction, the chief executive officer now owns 518,004 shares of the company’s stock, valued at approximately $310,890,460.68. 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 is available through the SEC website. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms 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 completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This trade 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 251,993 shares of company stock worth $133,271,982 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.1 %

NASDAQ:META opened at $567.16 on Friday. Meta Platforms, Inc. has a 1-year low of $308.33 and a 1-year high of $602.95. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average price is $555.99 and its 200 day moving average price is $513.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 21.84 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. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. 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 currently 9.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Securities boosted their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Robert W. Baird increased their price objective on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday. Citigroup increased their price target on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore ISI lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $634.10.

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.