Modera Wealth Management LLC Buys 260 Shares of Meta Platforms, Inc. (NASDAQ:META)

Modera Wealth Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,365 shares of the social networking company’s stock after purchasing an additional 260 shares during the quarter. Modera Wealth Management LLC’s holdings in Meta Platforms were worth $4,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the period. Capital World Investors boosted its position in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC boosted its position in shares of Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after acquiring an additional 342,742 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on META. Piper Sandler increased their target price on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Mizuho increased their price target on Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Tigress Financial increased their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Morgan Stanley increased their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird increased their target price on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $621.63.

Insider Activity

In other news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the transaction, the chief operating officer now directly owns 10,707 shares in the company, valued at $6,147,531.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 251,230 shares of company stock worth $132,784,843 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 2.6 %

Shares of NASDAQ:META opened at $593.28 on Wednesday. The stock has a market cap of $1.50 trillion, a price-to-earnings ratio of 34.08, a PEG ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $296.86 and a 52-week high of $602.95. The business has a 50-day moving average price of $553.36 and a 200-day moving average price of $511.61. 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 (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $3.23 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.