Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Bernardo Wealth Planning LLC

Bernardo Wealth Planning LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,307 shares of the social networking company’s stock after acquiring an additional 26 shares during the quarter. Bernardo Wealth Planning LLC’s holdings in Meta Platforms were worth $754,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares during the period. Jennison Associates LLC lifted its position in 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 period. Sustainable Growth Advisers LP acquired a new stake in Meta Platforms during the 2nd quarter worth approximately $595,152,000. Global Assets Advisory LLC purchased a new position in shares of Meta Platforms in the 1st quarter valued at approximately $515,383,000. Finally, Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 831,047 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,911 shares of company stock valued at $131,978,559. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wolfe Research assumed coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target on the stock. Pivotal Research initiated coverage on shares of Meta Platforms in a research report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 price objective for the company. Piper Sandler boosted their target price on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Roth Mkm raised their price target on Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given 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 a consensus price target of $617.37.

Meta Platforms Trading Down 0.2 %

Meta Platforms stock opened at $575.16 on Tuesday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.04, a PEG ratio of 1.45 and a beta of 1.22. The firm has a 50-day moving average price of $547.72 and a two-hundred day moving average price of $509.22.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating 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 firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the business earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

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 $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

About Meta Platforms

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.