PDS Planning Inc Has $5.62 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

PDS Planning Inc grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 9,818 shares of the social networking company’s stock after acquiring an additional 407 shares during the quarter. PDS Planning Inc’s holdings in Meta Platforms were worth $5,620,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% during 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 period. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter worth $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth $49,000. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on META. Pivotal Research upped their price objective on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Guggenheim upped their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. DA Davidson began coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Barclays upped their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $514.89, for a total value of $8,599,692.78. Following the transaction, the chief executive officer now owns 89,927 shares in the company, valued at $46,302,513.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $514.89, for a total value of $8,599,692.78. Following the transaction, the chief executive officer now owns 89,927 shares in the company, valued at $46,302,513.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,118 shares of company stock worth $121,237,935. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 3.4 %

Shares of NASDAQ:META opened at $591.70 on Friday. The business’s 50 day simple moving average is $558.95 and its two-hundred day simple moving average is $514.71. The firm has a market cap of $1.50 trillion, a P/E ratio of 27.87, a PEG ratio of 1.24 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s payout ratio is currently 9.42%.

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.