Net Worth Advisory Group Takes $2.68 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Net Worth Advisory Group bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,680 shares of the social networking company’s stock, valued at approximately $2,679,000. Meta Platforms comprises about 0.8% of Net Worth Advisory Group’s portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Delos Wealth Advisors LLC boosted its stake 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 worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% during the second 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 in the last quarter. Richardson Financial Services Inc. raised its position in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms in the 1st quarter worth about $44,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,816 shares of company stock worth $132,421,828. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on META. Piper Sandler lifted their target price on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Mizuho upped their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday. Roth Mkm increased their target price on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Morgan Stanley increased their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $617.37.

Meta Platforms Stock Down 0.1 %

META stock opened at $576.47 on Friday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.46 trillion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The business’s 50-day simple moving average is $546.53 and its 200 day simple moving average is $508.76.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $3.23 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. 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 (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.