Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Apollon Financial LLC

Apollon Financial LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,331 shares of the social networking company’s stock after buying an additional 88 shares during the quarter. Apollon Financial LLC’s holdings in Meta Platforms were worth $762,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC increased its holdings in shares of Meta Platforms by 7.7% during the third quarter. WealthPlan Investment Management LLC now owns 22,196 shares of the social networking company’s stock valued at $12,706,000 after purchasing an additional 1,588 shares during the period. Apollon Wealth Management LLC grew its position in Meta Platforms by 3.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 44,624 shares of the social networking company’s stock valued at $25,545,000 after buying an additional 1,606 shares in the last quarter. Jeppson Wealth Management LLC increased its stake in Meta Platforms by 0.7% during the 3rd quarter. Jeppson Wealth Management LLC now owns 4,109 shares of the social networking company’s stock valued at $2,352,000 after buying an additional 27 shares during the period. Everhart Financial Group Inc. raised its position in shares of Meta Platforms by 13.3% during the 3rd quarter. Everhart Financial Group Inc. now owns 12,876 shares of the social networking company’s stock worth $7,371,000 after buying an additional 1,507 shares in the last quarter. Finally, Fountainhead AM LLC lifted its stake in shares of Meta Platforms by 11.2% in the 3rd quarter. Fountainhead AM LLC now owns 4,437 shares of the social networking company’s stock worth $2,540,000 after acquiring an additional 448 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares of the company’s stock, valued at $17,360,833.70. The trade was a 2.86 % 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 16,702 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $526.94, for a total value of $8,800,951.88. Following the completion of the sale, the chief executive officer now directly owns 46,292 shares in the company, valued at approximately $24,393,106.48. This represents a 26.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,200 shares of company stock valued at $84,533,106. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on META. Guggenheim raised their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wells Fargo & Company dropped their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Mizuho raised their target price on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Price Performance

Shares of META opened at $554.08 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market cap of $1.40 trillion, a PE ratio of 26.10, a PEG ratio of 1.28 and a beta of 1.22. The firm’s 50 day moving average price is $568.11 and its 200 day moving average price is $519.97. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

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. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.