Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Fonville Wealth Management LLC

Fonville Wealth Management LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 26.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 620 shares of the social networking company’s stock after purchasing an additional 130 shares during the period. Fonville Wealth Management LLC’s holdings in Meta Platforms were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of META. Central Valley Advisors LLC raised its holdings in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares during the period. Cherrydale Wealth Management LLC raised its holdings in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC grew its position in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares in the last quarter. Kozak & Associates Inc. grew its position in Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in Meta Platforms by 0.5% during the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock valued at $2,038,000 after purchasing an additional 18 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

META has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Scotiabank lowered their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Barclays boosted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Morgan Stanley boosted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two investment 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 issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Price Performance

NASDAQ:META opened at $560.68 on Tuesday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The stock has a market cap of $1.42 trillion, a P/E ratio of 26.41, a PEG ratio of 1.36 and a beta of 1.22. 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 fifty day moving average price of $556.78 and a 200 day moving average price of $513.67.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 21.84 earnings per share for the current 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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $513.09, for a total value of $8,569,629.18. Following the completion of the transaction, the chief executive officer now owns 98,654 shares in the company, valued at approximately $50,618,380.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the sale, the chief executive officer now owns 98,654 shares in the company, valued at $50,618,380.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,040 shares of company stock worth $132,361,588. 13.71% of the stock is currently owned by corporate insiders.

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.