Meta Platforms, Inc. (NASDAQ:META) Shares Bought by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.9% in the 3rd quarter, Holdings Channel reports. The fund owned 4,188 shares of the social networking company’s stock after acquiring an additional 235 shares during the period. TCI Wealth Advisors Inc.’s holdings in Meta Platforms were worth $2,397,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. TCP Asset Management LLC grew its stake in shares of Meta Platforms by 14.6% during the third quarter. TCP Asset Management LLC now owns 510 shares of the social networking company’s stock valued at $292,000 after acquiring an additional 65 shares in the last quarter. Concord Wealth Partners grew its stake in Meta Platforms by 10.5% in the third quarter. Concord Wealth Partners now owns 13,555 shares of the social networking company’s stock worth $7,759,000 after purchasing an additional 1,283 shares in the last quarter. Vivid Wealth Management LLC grew its stake in Meta Platforms by 9.1% in the third quarter. Vivid Wealth Management LLC now owns 4,543 shares of the social networking company’s stock worth $2,601,000 after purchasing an additional 378 shares in the last quarter. Investment Partners Asset Management Inc. grew its stake in Meta Platforms by 6.5% in the third quarter. Investment Partners Asset Management Inc. now owns 4,468 shares of the social networking company’s stock worth $2,558,000 after purchasing an additional 273 shares in the last quarter. Finally, Forbes J M & Co. LLP grew its stake in Meta Platforms by 1.2% in the third quarter. Forbes J M & Co. LLP now owns 11,231 shares of the social networking company’s stock worth $6,429,000 after purchasing an additional 137 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms 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 sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Peggy Alford sold 1,052 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total value of $503,908.00. Following the transaction, the director now directly owns 6,168 shares of the company’s stock, valued at approximately $2,954,472. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 251,573 shares of company stock valued at $133,019,910 in the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 4.1 %

Meta Platforms stock opened at $567.58 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 firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $296.86 and a 1 year high of $602.95. The firm’s 50 day moving average price is $555.21 and its two-hundred day moving average price is $512.56.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, research analysts predict that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. KeyCorp lifted their price target on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays lifted their price target on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $634.37.

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.