Darwin Wealth Management LLC Invests $223,000 in Meta Platforms, Inc. (NASDAQ:META)

Darwin Wealth Management LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 389 shares of the social networking company’s stock, valued at approximately $223,000.

Several other large investors have also made changes to their positions in META. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% during the 2nd 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 in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $46,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter worth $49,000. Finally, NewSquare Capital LLC boosted its holdings in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $559.14 on Friday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm’s 50-day moving average is $572.74 and its 200 day moving average is $523.96. The stock has a market cap of $1.41 trillion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.24 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on META. Pivotal Research boosted their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Guggenheim upped their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Citigroup lifted their price target on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Loop Capital lifted their target price on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Activity

In related news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $520.48, for a total value of $8,693,056.96. Following the completion of the transaction, the chief executive officer now directly owns 2,657 shares in the company, valued at $1,382,915.36. The trade was a 86.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,843 shares of company stock valued at $92,083,554 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

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.