Naviter Wealth LLC Buys 68 Shares of Meta Platforms, Inc. (NASDAQ:META)

Naviter Wealth LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,753 shares of the social networking company’s stock after acquiring an additional 68 shares during the quarter. Meta Platforms accounts for 0.8% of Naviter Wealth LLC’s holdings, making the stock its 28th largest position. Naviter Wealth LLC’s holdings in Meta Platforms were worth $5,583,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in META. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. raised 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 valued at $40,000 after purchasing an additional 44 shares in the last quarter. Richardson Financial Services Inc. lifted its position in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Meta Platforms during the first quarter worth $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total value of $533,922.85. Following the sale, the insider now directly owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,816 shares of company stock worth $132,421,828 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on META shares. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. TD Cowen lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday. DA Davidson started coverage on Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Jefferies Financial Group raised their target price on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Loop Capital upped their price target on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $617.37.

Meta Platforms Stock Up 0.0 %

Shares of NASDAQ META opened at $576.93 on Friday. The stock has a market cap of $1.46 trillion, a P/E ratio of 33.14, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week 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 firm has a 50 day moving average price of $545.36 and a 200 day moving average price of $508.09.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the prior year, the company earned $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.