Roffman Miller Associates Inc. PA Acquires 1,415 Shares of Meta Platforms, Inc. (NASDAQ:META)

Roffman Miller Associates Inc. PA grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 25.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,960 shares of the social networking company’s stock after purchasing an additional 1,415 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Meta Platforms were worth $3,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the third quarter worth about $36,000. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted 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 acquiring an additional 44 shares during the period. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms in the third quarter valued at approximately $49,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $623.77 on Monday. The stock has a market cap of $1.57 trillion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. The firm’s fifty day simple moving average is $579.64 and its 200 day simple moving average is $533.06. Meta Platforms, Inc. has a twelve month low of $317.77 and a twelve month high of $629.79. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be issued 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%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on META. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. TD Cowen raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Truist Financial raised their price objective on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Bank of America raised their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms 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 completion of the transaction, the insider now owns 37,817 shares of the company’s stock, valued at $19,197,043.71. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $577.49, for a total value of $238,503.37. Following the completion of the transaction, the chief operating officer now directly owns 19,166 shares of the company’s stock, valued at approximately $11,068,173.34. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,160 shares of company stock worth $81,611,223. Corporate insiders own 13.71% of the company’s stock.

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.