Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Verum Partners LLC

Verum Partners LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the third quarter, HoldingsChannel reports. The firm owned 611 shares of the social networking company’s stock after buying an additional 23 shares during the period. Verum Partners LLC’s holdings in Meta Platforms were worth $350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the third quarter valued at about $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on META. TD Securities upped their target price on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. TD Cowen increased their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Scotiabank began coverage on shares of Meta Platforms in a research report on Friday, October 11th. They issued a “sector perform” rating and a $585.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Finally, Stifel Nicolaus boosted their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $613.71.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the transaction, the insider now owns 35,130 shares of the company’s stock, valued at approximately $17,206,674. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00. Following the completion of the transaction, the insider now directly owns 35,130 shares of the company’s stock, valued at $17,206,674. 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 249,911 shares of company stock worth $131,887,905. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $576.79 on Thursday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a fifty day moving average price of $544.01 and a two-hundred day moving average price of $507.60. The firm has a market cap of $1.46 trillion, a P/E ratio of 33.13, a PEG ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the company earned $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. Research analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.