Greenup Street Wealth Management LLC Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Greenup Street Wealth Management LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 867 shares of the social networking company’s stock after purchasing an additional 83 shares during the period. Greenup Street Wealth Management LLC’s holdings in Meta Platforms were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the third quarter valued at $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the third quarter valued at $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Susan J. Li sold 33,018 shares of the company’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 filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. 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 three months, insiders have sold 250,816 shares of company stock valued at $132,421,828. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on META shares. Mizuho lifted their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets lifted their price objective on shares of Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a report on Wednesday, October 9th. DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, Piper Sandler lifted their price objective on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two research 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $617.37.

Meta Platforms Price Performance

Shares of META stock opened at $576.93 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm’s 50-day moving average is $545.36 and its two-hundred day moving average is $508.09. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The company has a market capitalization of $1.46 trillion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

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

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.