Transform Wealth LLC Has $12.26 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Transform Wealth LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 75.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,418 shares of the social networking company’s stock after purchasing an additional 9,194 shares during the period. Meta Platforms makes up 0.8% of Transform Wealth LLC’s investment portfolio, making the stock its 26th biggest holding. Transform Wealth LLC’s holdings in Meta Platforms were worth $12,261,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of META. Gradient Investments LLC lifted its stake in Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Baillie Gifford & Co. lifted its position 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 purchasing an additional 748,076 shares in the last quarter. ERn Financial LLC boosted its holdings in Meta Platforms by 59.0% during the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after purchasing an additional 613 shares during the last quarter. Stanley Laman Group Ltd. boosted its holdings in Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after purchasing an additional 352 shares during the last quarter. Finally, Lincoln National Corp grew 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 valued at $16,894,000 after purchasing an additional 2,504 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents 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, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,911 shares of company stock worth $131,887,905 over the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 1.6 %

Shares of NASDAQ META opened at $576.79 on Thursday. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 33.13, a PEG 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 52 week low of $279.40 and a 52 week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

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

Meta Platforms Dividend Announcement

The company 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. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Ratings Changes

A number of research firms have recently commented on META. Piper Sandler increased their price objective on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. DA Davidson started coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Oppenheimer increased their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Pivotal Research began coverage on shares of Meta Platforms in a research report on Tuesday, October 1st. They set a “buy” rating and a $780.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.