Glen Eagle Advisors LLC Has $1.67 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Glen Eagle Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,910 shares of the social networking company’s stock after acquiring an additional 48 shares during the period. Glen Eagle Advisors LLC’s holdings in Meta Platforms were worth $1,666,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in META. Charles Schwab Investment Management Inc. lifted its position in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after buying an additional 6,155 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after buying an additional 5,953 shares during the last quarter. Cutter & CO Brokerage Inc. grew its holdings in shares of Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after acquiring an additional 65 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its position in shares of Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after acquiring an additional 352 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $623.77 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52-week low of $317.77 and a 52-week high of $629.79. The company has a fifty day moving average of $578.51 and a 200-day moving average of $531.05. The stock has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the sale, the insider now directly owns 37,817 shares of the company’s stock, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,160 shares of company stock worth $81,611,223. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Guggenheim raised their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Mizuho increased their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird lifted their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $634.71.

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.