8,508 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by RBA Wealth Management LLC

RBA Wealth Management LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,508 shares of the social networking company’s stock, valued at approximately $4,870,000. Meta Platforms comprises about 1.9% of RBA Wealth Management LLC’s holdings, making the stock its 24th largest holding.

Other large investors also recently bought and sold shares of the company. Central Valley Advisors LLC boosted its stake in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC lifted its holdings in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after purchasing an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after purchasing an additional 18 shares during the last quarter. Kozak & Associates Inc. grew its holdings in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares in the last quarter. Finally, Firethorn Wealth Partners LLC raised its position in shares of Meta Platforms by 1.8% in the third quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock valued at $615,000 after buying an additional 19 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the completion of the sale, the chief operating officer now directly owns 11,120 shares in the company, valued at approximately $6,456,828. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,817 shares of company stock valued at $132,547,715 over the last quarter. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. BMO Capital Markets lifted their price objective on Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a research report on Wednesday, October 9th. DA Davidson began coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. Finally, Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $619.20.

Meta Platforms Stock Up 0.7 %

NASDAQ:META opened at $567.78 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The stock has a 50-day simple moving average of $549.53 and a 200 day simple moving average of $509.99.

Meta Platforms (NASDAQ:META) last issued 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. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis 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 presently 11.49%.

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.