Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Roberts Wealth Advisors LLC

Roberts Wealth Advisors LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 15.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 703 shares of the social networking company’s stock after acquiring an additional 93 shares during the quarter. Roberts Wealth Advisors LLC’s holdings in Meta Platforms were worth $417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gradient Investments LLC grew its stake in Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of 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 buying an additional 748,076 shares during the last quarter. ERn Financial LLC raised its holdings 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 valued at $802,000 after acquiring an additional 613 shares in the last quarter. Stanley Laman Group Ltd. raised its holdings 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 valued at $846,000 after acquiring an additional 352 shares in the last quarter. Finally, Lincoln National Corp grew its holdings in Meta Platforms by 7.8% during the 1st 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 hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00. Following the sale, the insider now owns 35,130 shares in the company, valued at approximately $17,206,674. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 249,911 shares of company stock worth $131,887,905. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Down 1.6 %

META opened at $576.79 on Thursday. 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 company has a market capitalization of $1.46 trillion, a PE ratio of 33.13, a P/E/G ratio of 1.45 and a beta of 1.22. The stock’s fifty day moving average is $544.01 and its 200-day moving average is $507.60. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the business earned $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on META shares. Oppenheimer upped their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Monness Crespi & Hardt upped their price objective on Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Guggenheim lifted their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Jefferies Financial Group upped their price target on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Piper Sandler raised their price objective on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $613.71.

About Meta Platforms

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.