Meta Platforms, Inc. (NASDAQ:META) Stock Position Lifted by Leslie Global Wealth LLC

Leslie Global Wealth LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,263 shares of the social networking company’s stock after acquiring an additional 98 shares during the quarter. Leslie Global Wealth LLC’s holdings in Meta Platforms were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Invictus Private Wealth LLC grew its position in shares of Meta Platforms by 3.6% during the 3rd quarter. Invictus Private Wealth LLC now owns 1,272 shares of the social networking company’s stock valued at $728,000 after buying an additional 44 shares during the last quarter. Financial Security Advisor Inc. boosted its stake in Meta Platforms by 2.5% in the third quarter. Financial Security Advisor Inc. now owns 2,177 shares of the social networking company’s stock valued at $1,246,000 after acquiring an additional 54 shares during the period. Catalina Capital Group LLC grew its holdings in shares of Meta Platforms by 12.3% during the third quarter. Catalina Capital Group LLC now owns 10,438 shares of the social networking company’s stock valued at $5,975,000 after purchasing an additional 1,145 shares during the last quarter. Hardman Johnston Global Advisors LLC raised its position in shares of Meta Platforms by 571.6% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 8,475 shares of the social networking company’s stock worth $4,851,000 after purchasing an additional 7,213 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its holdings in shares of Meta Platforms by 3.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 13,508 shares of the social networking company’s stock worth $7,733,000 after purchasing an additional 392 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 228,118 shares of company stock worth $121,237,935. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.4 %

Shares of Meta Platforms stock opened at $589.34 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 market cap of $1.49 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.24 and a beta of 1.22. 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 stock has a 50-day moving average price of $560.42 and a 200 day moving average price of $515.25.

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

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on META. Morgan Stanley increased their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Guggenheim boosted their target price 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. UBS Group raised their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

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.