Good Life Advisors LLC Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Good Life Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,569 shares of the social networking company’s stock after buying an additional 1,299 shares during the period. Good Life Advisors LLC’s holdings in Meta Platforms were worth $6,624,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC acquired a new position in Meta Platforms during the 3rd quarter worth approximately $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

NASDAQ META opened at $576.93 on Friday. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.14, a PEG ratio of 1.45 and a beta of 1.22. The business’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 current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the company posted $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. Research 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. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend 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%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on META shares. TD Cowen raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Roth Mkm upped their price objective on Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Wolfe Research began coverage on Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective on the stock. Finally, 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 report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $617.37.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 33,018 shares of Meta Platforms 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,816 shares of company stock valued at $132,421,828. Corporate insiders own 13.71% of the company’s stock.

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.