Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,759 shares of the social networking company’s stock after acquiring an additional 427 shares during the period. Meta Platforms comprises 0.5% of Moss Adams Wealth Advisors LLC’s portfolio, making the stock its 20th largest holding. Moss Adams Wealth Advisors LLC’s holdings in Meta Platforms were worth $4,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in META. Vanguard Group Inc. increased its position in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the period. Capital World Investors boosted its stake in shares of Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares in the last quarter. Jennison Associates LLC raised its position in Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after acquiring an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC increased its holdings in shares of Meta Platforms by 3.1% in the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Down 0.1 %

NASDAQ META opened at $576.47 on Friday. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.11, a PEG 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, Inc. has a one year low of $279.40 and a one year high of $602.95. The company’s 50 day moving average price is $546.53 and its 200 day moving average price is $508.76.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.23 earnings per share. On average, sell-side analysts predict 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. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00. Following the sale, the insider now directly owns 35,130 shares in the company, valued at approximately $17,206,674. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total transaction of $443,269.00. Following the completion of the sale, the insider now directly owns 35,130 shares of the company’s stock, valued at approximately $17,206,674. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,816 shares of company stock valued at $132,421,828 over the last quarter. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of research reports. DA Davidson initiated coverage on Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research note on Wednesday. JMP Securities boosted their price objective on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 26th. Finally, Piper Sandler raised their target price 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 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $617.37.

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.