Freedom Day Solutions LLC Invests $226,000 in Meta Platforms, Inc. (NASDAQ:META)

Freedom Day Solutions LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, HoldingsChannel reports. The institutional investor acquired 394 shares of the social networking company’s stock, valued at approximately $226,000.

A number of other large investors have also made changes to their positions in META. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% in the 1st 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 during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. increased its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms during the third quarter worth about $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms in the 3rd quarter worth about $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

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, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $580.65, for a total transaction of $239,808.45. Following the completion of the transaction, the chief operating officer now owns 11,120 shares of the company’s stock, valued at approximately $6,456,828. 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, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. 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.

Analyst Ratings Changes

META has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Piper Sandler increased their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Guggenheim upped their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Two research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $621.63.

Meta Platforms Trading Up 1.0 %

Shares of NASDAQ META opened at $573.25 on Monday. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 29.26, a PEG ratio of 1.42 and a beta of 1.22. The stock’s 50 day moving average price is $551.05 and its two-hundred day moving average price is $510.65. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $38.26 billion. During the same period last year, the business posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts anticipate that Meta Platforms, Inc. will post 21.44 earnings per share 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 paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 10.21%.

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.