Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 22.2% in the third quarter, HoldingsChannel.com reports. The firm owned 1,279 shares of the social networking company’s stock after acquiring an additional 232 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Meta Platforms were worth $732,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of META. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. raised its stake in Meta Platforms by 122.2% during the 2nd 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 stake in Meta Platforms in the third quarter valued at $46,000. West Financial Advisors LLC acquired a new position in Meta Platforms in the third quarter valued at $49,000. Finally, NewSquare Capital LLC grew its holdings in shares of Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.1 %

Shares of META opened at $554.40 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The firm has a 50 day simple moving average of $569.10 and a 200-day simple moving average of $521.96.

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

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on META. Roth Mkm upped their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. UBS Group raised their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Finally, Loop Capital upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Insiders Place Their Bets

In related news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the sale, the insider now directly owns 338,662 shares of the company’s stock, valued at $188,810,838.24. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,593 shares of company stock valued at $75,253,970 in the last ninety days. 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.