Meta Platforms, Inc. (NASDAQ:META) Shares Bought by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,431 shares of the social networking company’s stock after buying an additional 57 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Meta Platforms were worth $1,392,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of META. Fiduciary Planning LLC boosted its holdings in Meta Platforms by 11.4% in the third quarter. Fiduciary Planning LLC now owns 1,309 shares of the social networking company’s stock valued at $750,000 after acquiring an additional 134 shares during the last quarter. Commonwealth Financial Services LLC raised its holdings in shares of Meta Platforms by 7.3% in the 3rd quarter. Commonwealth Financial Services LLC now owns 2,078 shares of the social networking company’s stock worth $1,198,000 after purchasing an additional 141 shares during the period. Index Fund Advisors Inc. lifted its stake in shares of Meta Platforms by 38.0% in the 3rd quarter. Index Fund Advisors Inc. now owns 2,653 shares of the social networking company’s stock valued at $1,518,000 after purchasing an additional 730 shares in the last quarter. Greystone Financial Group LLC lifted its stake in shares of Meta Platforms by 6.4% in the 3rd quarter. Greystone Financial Group LLC now owns 3,145 shares of the social networking company’s stock valued at $1,800,000 after purchasing an additional 190 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. grew its holdings in shares of Meta Platforms by 1.1% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 34,505 shares of the social networking company’s stock worth $19,752,000 after purchasing an additional 371 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,817 shares of company stock worth $132,547,715 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

NASDAQ META opened at $573.25 on Friday. The company has a 50-day moving average price of $551.05 and a two-hundred day moving average price of $510.72. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The stock has a market cap of $1.45 trillion, a price-to-earnings ratio of 29.26, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. 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 (NASDAQ:META) last issued its quarterly earnings data 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. The business 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 for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.23 EPS. Analysts forecast that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued 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 (DPR) is 10.21%.

Analyst Ratings Changes

A number of brokerages have weighed in on META. Rosenblatt Securities lifted their price target on shares of Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Roth Mkm lifted their target price on shares of Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a report on Friday, October 11th. DA Davidson assumed coverage on Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. The Goldman Sachs Group increased their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Wedbush reissued an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $621.63.

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.