Braun Bostich & Associates Inc. Has $568,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Braun Bostich & Associates Inc. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 993 shares of the social networking company’s stock after selling 99 shares during the period. Braun Bostich & Associates Inc.’s holdings in Meta Platforms were worth $568,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of META. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. lifted its position in shares of 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 buying an additional 44 shares during the last quarter. Richardson Financial Services Inc. lifted its position in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms in the first quarter valued at approximately $44,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. UBS Group lifted their price target on Meta Platforms from $635.00 to $690.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their price target on Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Rosenblatt Securities lifted their price target on Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $613.46.

Meta Platforms Stock Down 0.7 %

Shares of NASDAQ:META opened at $586.27 on Wednesday. The company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 33.67, a P/E/G ratio of 1.45 and a beta of 1.22. 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 business’s 50-day moving average is $542.26 and its 200-day moving average is $507.12. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating 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 business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the company posted $3.23 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. Equities research analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. 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 payout ratio is 11.49%.

Insider Activity 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 value of $195,642.32. Following the completion of the sale, the chief operating officer now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Meta Platforms news, 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 transaction of $195,642.32. Following the completion of the sale, the chief operating officer now directly owns 5,971 shares of the company’s stock, valued at approximately $2,835,389.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,239 shares of company stock valued at $132,033,148 in the last three months. Corporate insiders own 13.71% of the company’s stock.

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.