Diversify Wealth Management LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Diversify Wealth Management LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 187.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,147 shares of the social networking company’s stock after buying an additional 8,566 shares during the period. Diversify Wealth Management LLC’s holdings in Meta Platforms were worth $7,411,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in META. International Assets Investment Management LLC grew its stake in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Capital Research Global Investors lifted its holdings 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 acquiring an additional 4,379,826 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Meta Platforms by 24.7% during 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 acquiring an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in Meta Platforms in the second quarter worth $595,152,000. Finally, Vanguard Group Inc. increased its stake 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 valued at $90,891,055,000 after acquiring an additional 831,047 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on META shares. Jefferies Financial Group upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Sanford C. Bernstein upped their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company cut their price objective on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Guggenheim lifted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

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

Meta Platforms (NASDAQ:META) last released 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. 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%. As a group, equities analysts expect that Meta Platforms, Inc. will post 21.84 EPS for the current fiscal 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 given a $0.50 dividend. The ex-dividend date of this dividend 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 presently 9.42%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Monday, August 5th. The stock was 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 of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, Director Peggy Alford sold 1,052 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total transaction of $503,908.00. Following the completion of the sale, the director now directly owns 6,168 shares in the company, valued at approximately $2,954,472. The trade was 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. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on 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 transaction, the insider now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 251,993 shares of company stock worth $133,271,982. 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.