Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Luts & Greenleigh Group Inc.

Luts & Greenleigh Group Inc. increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,357 shares of the social networking company’s stock after purchasing an additional 149 shares during the quarter. Luts & Greenleigh Group Inc.’s holdings in Meta Platforms were worth $777,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Gradient Investments LLC raised its position in Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Baillie Gifford & Co. raised its position in Meta Platforms by 14.0% in the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after acquiring an additional 748,076 shares in the last quarter. ERn Financial LLC raised its position in Meta Platforms by 59.0% in the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after acquiring an additional 613 shares in the last quarter. Stanley Laman Group Ltd. raised its position in Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after acquiring an additional 352 shares in the last quarter. Finally, Lincoln National Corp raised its position in Meta Platforms by 7.8% in the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after acquiring an additional 2,504 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

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 owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $584.83, for a total value of $241,534.79. Following the completion of the sale, the chief operating officer now directly owns 11,533 shares in the company, valued at approximately $6,744,844.39. 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 ninety days, insiders have sold 250,239 shares of company stock valued at $132,033,148. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Meta Platforms stock opened at $586.27 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.49 trillion, a P/E ratio of 33.67, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The firm has a 50-day moving average of $542.26 and a 200-day moving average of $507.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share 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 business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the business posted $3.23 EPS. The business’s revenue was up 22.1% on a year-over-year basis. Sell-side analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on META. The Goldman Sachs Group raised their price target on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday. Susquehanna lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Wolfe Research initiated coverage on Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective for the company. DA Davidson initiated coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Finally, Loop Capital lifted their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $613.46.

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.