Delta Financial Group Inc. Purchases 117 Shares of Meta Platforms, Inc. (NASDAQ:META)

Delta Financial Group Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,718 shares of the social networking company’s stock after purchasing an additional 117 shares during the period. Meta Platforms comprises 0.8% of Delta Financial Group Inc.’s holdings, making the stock its 23rd largest position. Delta Financial Group Inc.’s holdings in Meta Platforms were worth $2,128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. S.A. Mason LLC boosted its stake in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the period. Front Row Advisors LLC boosted its holdings in shares of Meta Platforms by 5.7% during the second quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock worth $187,000 after acquiring an additional 20 shares during the period. Horizon Bancorp Inc. IN lifted its holdings in Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares during the last quarter. Northern Capital Management Inc. boosted its stake in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares during the period. Finally, Buckingham Capital Management Inc. grew its holdings in Meta Platforms by 5.1% in the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after buying an additional 21 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $582.77 on Friday. The business has a 50-day moving average price of $524.47 and a two-hundred day moving average price of $501.92. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $583.36. 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 company has a market cap of $1.48 trillion, a P/E ratio of 33.47, a PEG ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the firm posted $3.23 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. As a group, analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s payout ratio is presently 11.49%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $530.75, for a total value of $8,864,586.50. Following the transaction, the chief executive officer now directly owns 169,372 shares in the company, valued at $89,894,189. The disclosure for this sale can be found here. Insiders have sold a total of 300,228 shares of company stock valued at $158,005,260 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Stifel Nicolaus raised their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Securities increased their target price on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Piper Sandler boosted their price target on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial boosted their target price on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $598.08.

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.