Certified Advisory Corp Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Certified Advisory Corp raised its position in Meta Platforms, Inc. (NASDAQ:META) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 872 shares of the social networking company’s stock after purchasing an additional 53 shares during the quarter. Certified Advisory Corp’s holdings in Meta Platforms were worth $499,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Great Valley Advisor Group Inc. grew its stake in shares of Meta Platforms by 12.7% in the third quarter. Great Valley Advisor Group Inc. now owns 41,074 shares of the social networking company’s stock valued at $23,513,000 after buying an additional 4,637 shares in the last quarter. Nicolet Advisory Services LLC lifted its holdings in Meta Platforms by 2.6% during the 3rd quarter. Nicolet Advisory Services LLC now owns 8,719 shares of the social networking company’s stock worth $5,081,000 after buying an additional 220 shares during the last quarter. GenTrust LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $896,000. Stonebrook Private Inc. lifted its holdings in Meta Platforms by 6.8% during the 3rd quarter. Stonebrook Private Inc. now owns 5,016 shares of the social networking company’s stock worth $2,871,000 after buying an additional 319 shares during the last quarter. Finally, Nwam LLC lifted its holdings in shares of Meta Platforms by 1.9% in the 3rd quarter. Nwam LLC now owns 26,497 shares of the social networking company’s stock worth $15,168,000 after purchasing an additional 498 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.7 %

Shares of META opened at $559.14 on Monday. The firm’s 50-day moving average price is $572.74 and its 200-day moving average price is $524.71. The firm has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.25 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. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed 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 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Truist Financial raised their price target on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Citigroup lifted their price target on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Wells Fargo & Company lowered their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Finally, Loop Capital lifted their price objective 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 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 given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale 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 Meta Platforms stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,141 shares of company stock valued at $83,390,497 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.