Meta Platforms, Inc. (NASDAQ:META) Position Boosted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,400 shares of the social networking company’s stock after purchasing an additional 2,042 shares during the period. Meta Platforms makes up about 0.7% of Axxcess Wealth Management LLC’s portfolio, making the stock its 29th largest holding. Axxcess Wealth Management LLC’s holdings in Meta Platforms were worth $28,851,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC lifted its position in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted its position in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at $46,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the sale, the insider now directly owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Christopher K. Cox sold 10,000 shares of Meta Platforms stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $569.93, for a total transaction of $5,699,300.00. Following the sale, the insider now directly owns 328,662 shares of the company’s stock, valued at $187,314,333.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the sale, the insider now directly owns 338,662 shares in the company, valued at approximately $188,810,838.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 175,807 shares of company stock valued at $93,851,617. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on META. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Raymond James increased their price objective on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. DA Davidson began coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Two 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 has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

NASDAQ META opened at $580.00 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The stock’s 50-day moving average is $564.48 and its two-hundred day moving average is $518.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market cap of $1.46 trillion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.