Leo Wealth LLC Acquires 1,137 Shares of Meta Platforms, Inc. (NASDAQ:META)

Leo Wealth LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,642 shares of the social networking company’s stock after purchasing an additional 1,137 shares during the quarter. Leo Wealth LLC’s holdings in Meta Platforms were worth $4,375,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Eastern Bank lifted its position in Meta Platforms by 70.3% in the third quarter. Eastern Bank now owns 156,566 shares of the social networking company’s stock valued at $89,625,000 after purchasing an additional 64,618 shares during the last quarter. My Legacy Advisors LLC grew its stake in shares of Meta Platforms by 17.5% in the third quarter. My Legacy Advisors LLC now owns 1,329 shares of the social networking company’s stock worth $761,000 after purchasing an additional 198 shares during the last quarter. Xcel Wealth Management LLC increased its holdings in Meta Platforms by 1.2% during the 3rd quarter. Xcel Wealth Management LLC now owns 5,004 shares of the social networking company’s stock valued at $2,864,000 after purchasing an additional 60 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Meta Platforms by 27.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 157,388 shares of the social networking company’s stock worth $90,095,000 after buying an additional 34,364 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $12,707,000. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the transaction, the chief operating officer now directly owns 5,147 shares in the company, valued at $2,684,057.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $521.48, for a total value of $214,849.76. Following the transaction, the chief operating officer now owns 5,147 shares of the company’s stock, valued at $2,684,057.56. 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 250,817 shares of company stock valued at $132,547,715. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

NASDAQ META opened at $567.78 on Friday. 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 stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 32.57, a PEG ratio of 1.45 and a beta of 1.22. The company’s 50 day moving average is $549.53 and its two-hundred day moving average is $509.99.

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

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on META shares. Susquehanna upped their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Finally, Guggenheim boosted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $619.20.

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.