Delta Financial Advisors LLC Has $2.57 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Delta Financial Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the third quarter, Holdings Channel reports. The institutional investor owned 4,491 shares of the social networking company’s stock after buying an additional 181 shares during the period. Delta Financial Advisors LLC’s holdings in Meta Platforms were worth $2,571,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Addison Advisors LLC increased its holdings in Meta Platforms by 8.7% in the 3rd quarter. Addison Advisors LLC now owns 908 shares of the social networking company’s stock valued at $520,000 after buying an additional 73 shares during the period. GDS Wealth Management lifted its stake in shares of Meta Platforms by 7.8% in the 3rd quarter. GDS Wealth Management now owns 24,910 shares of the social networking company’s stock valued at $14,259,000 after acquiring an additional 1,803 shares during the last quarter. TRU Independence Asset Management 2 LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at $1,657,000. Catalytic Wealth RIA LLC grew its position in Meta Platforms by 0.5% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 6,845 shares of the social networking company’s stock worth $3,918,000 after acquiring an additional 32 shares during the last quarter. Finally, Chartwell Investment Partners LLC increased its holdings in Meta Platforms by 4.7% in the 3rd quarter. Chartwell Investment Partners LLC now owns 62,310 shares of the social networking company’s stock worth $35,669,000 after purchasing an additional 2,772 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the sale, the insider now owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,200 shares of company stock valued at $84,533,106. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

META opened at $577.16 on Friday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 1.29 and a beta of 1.22. The firm’s fifty day moving average price is $565.83 and its two-hundred day moving average price is $518.72.

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

Meta Platforms Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays boosted their price target on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Piper Sandler raised their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, JMP Securities upped their price target on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.