Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by tru Independence LLC

tru Independence LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,668 shares of the social networking company’s stock after buying an additional 157 shares during the quarter. tru Independence LLC’s holdings in Meta Platforms were worth $1,527,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC grew its stake 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 buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms during the third quarter valued at about $46,000. Finally, J.Safra Asset Management Corp acquired a new stake in Meta Platforms during the first quarter worth about $47,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now directly owns 30,581 shares of the company’s stock, valued at $17,360,833.70. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,200 shares of company stock valued at $84,533,106 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.5 %

Shares of Meta Platforms stock opened at $577.16 on Friday. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.29 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s 50 day simple moving average is $565.83 and its 200-day simple moving average is $518.72.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm 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%. Equities research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. TD Cowen lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Bank of America lifted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price target on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Two investment 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $634.10.

About Meta Platforms

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.