Edge Financial Advisors LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Edge Financial Advisors LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 3rd quarter, HoldingsChannel reports. The firm purchased 434 shares of the social networking company’s stock, valued at approximately $248,000.

Other large investors also recently bought and sold shares of the company. Central Valley Advisors LLC boosted its position 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 worth $3,271,000 after buying an additional 18 shares during the period. Cherrydale Wealth Management LLC boosted its position in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the period. Alliance Wealth Advisors LLC raised its holdings in Meta Platforms by 0.7% during the third 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 in the last quarter. Kozak & Associates Inc. raised its holdings in 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 purchasing an additional 18 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in Meta Platforms by 0.5% during the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Monness Crespi & Hardt boosted their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday. Tigress Financial boosted their target price on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Oppenheimer boosted their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Finally, Bank of America upped their price target on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Trading Down 0.1 %

Meta Platforms stock opened at $567.16 on Friday. The company’s fifty day simple moving average is $555.99 and its 200-day simple moving average is $513.12. 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 12 month low of $308.33 and a 12 month high of $602.95. The stock has a market cap of $1.43 trillion, a P/E ratio of 26.72, a P/E/G ratio of 1.44 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.47 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the transaction, the insider now owns 31,482 shares of the company’s stock, valued at $18,262,708.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,993 shares of company stock worth $133,271,982. Corporate insiders own 13.71% of the company’s stock.

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.