Opal Wealth Advisors LLC Purchases 75 Shares of Meta Platforms, Inc. (NASDAQ:META)

Opal Wealth Advisors LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,404 shares of the social networking company’s stock after acquiring an additional 75 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Delos Wealth Advisors LLC boosted its stake 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 worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC bought a new position in Meta Platforms in the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. increased its position 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 acquiring an additional 44 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms during the 1st quarter worth $44,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on META shares. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $660.00 target price on shares of Meta Platforms in a research note on Monday, October 7th. Scotiabank began coverage on shares of Meta Platforms in a research report on Friday, October 11th. They set a “sector perform” rating and a $585.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Barclays raised their price target on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $613.46.

Insider Activity at Meta Platforms

In other news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms 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. Insiders have sold a total of 250,239 shares of company stock worth $132,033,148 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $586.27 on Wednesday. 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, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The company has a market cap of $1.49 trillion, a P/E ratio of 33.67, a PEG ratio of 1.45 and a beta of 1.22. The firm has a fifty day moving average price of $542.26 and a 200 day moving average price of $507.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share 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 company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the business earned $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.