Roanoke Asset Management Corp NY Purchases 169 Shares of Meta Platforms, Inc. (NASDAQ:META)

Roanoke Asset Management Corp NY grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,470 shares of the social networking company’s stock after buying an additional 169 shares during the period. Meta Platforms accounts for about 3.5% of Roanoke Asset Management Corp NY’s holdings, making the stock its 6th largest holding. Roanoke Asset Management Corp NY’s holdings in Meta Platforms were worth $11,145,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. Richardson Financial Services Inc. raised its position in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the last quarter. Finally, Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter worth $46,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. TD Cowen upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Robert W. Baird increased their price objective on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Wolfe Research initiated coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price on the stock. 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 note on Monday, October 14th. Two equities research 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $634.10.

Insider Activity

In other news, CEO Mark Zuckerberg sold 6,534 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $505.04, for a total transaction of $3,299,931.36. Following the sale, the chief executive officer now owns 116,108 shares in the company, valued at approximately $58,639,184.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 6,534 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total transaction of $3,299,931.36. Following the transaction, the chief executive officer now directly owns 116,108 shares in the company, valued at approximately $58,639,184.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $532.21, for a total value of $481,650.05. Following the completion of the transaction, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,040 shares of company stock worth $132,361,588. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $560.68 on Tuesday. The stock has a market capitalization of $1.42 trillion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a 50 day moving average price of $556.78 and a two-hundred day moving average price of $513.67. The company has a quick ratio of 2.83, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts predict that Meta Platforms, Inc. will post 21.84 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 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.