Iams Wealth Management LLC Has $1.08 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Iams Wealth Management LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 21.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,888 shares of the social networking company’s stock after purchasing an additional 338 shares during the period. Iams Wealth Management LLC’s holdings in Meta Platforms were worth $1,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in Meta Platforms in the 4th quarter valued at approximately $146,000. Cape ANN Savings Bank bought a new position in Meta Platforms in the 4th quarter valued at approximately $231,000. BlueChip Wealth Advisors LLC bought a new position in Meta Platforms in the 4th quarter valued at approximately $617,000. Skyline Advisors Inc. bought a new position in Meta Platforms in the 4th quarter valued at approximately $271,000. Finally, M3 Advisory Group LLC bought a new position in Meta Platforms in the 4th quarter valued at approximately $207,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company raised their price target on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. TD Cowen raised their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $660.00 price objective on shares of Meta Platforms in a research note on Monday, October 7th. Finally, TD Securities raised their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $613.46.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $474.86, for a total transaction of $195,642.32. Following the completion of the transaction, the chief operating officer now directly owns 5,971 shares in the company, valued at $2,835,389.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. 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 is available through the SEC website. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $474.86, for a total value of $195,642.32. Following the completion of the sale, the chief operating officer now owns 5,971 shares of the company’s stock, valued at $2,835,389.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,826 shares of company stock valued at $131,791,613 in the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.1 %

Shares of META opened at $590.42 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The business has a 50-day moving average of $540.41 and a 200 day moving average of $506.41. The firm has a market cap of $1.50 trillion, a P/E ratio of 33.91, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. 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 issued its 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. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The company 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 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 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.