Resonant Capital Advisors LLC Acquires 1,065 Shares of Meta Platforms, Inc. (NASDAQ:META)

Resonant Capital Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,832 shares of the social networking company’s stock after acquiring an additional 1,065 shares during the period. Resonant Capital Advisors LLC’s holdings in Meta Platforms were worth $5,628,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of META. Delos Wealth Advisors LLC raised its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Meta Platforms in the first quarter valued at about $44,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.2 %

Shares of NASDAQ:META opened at $575.16 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The business has a 50 day moving average of $547.72 and a two-hundred day moving average of $509.22. The company has a market capitalization of $1.46 trillion, a PE ratio of 33.04, a PEG ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the prior year, the firm posted $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Robert W. Baird raised their target price on shares of Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. JMP Securities upped their target price on Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a report on Thursday, September 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Susquehanna upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their target price on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $617.37.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total transaction of $533,922.85. Following the transaction, the insider now owns 33,292 shares in the company, valued at $19,641,281.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the sale, the insider now directly owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,911 shares of company stock valued at $131,978,559. 13.71% of the stock is owned by company insiders.

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.