Meta Platforms, Inc. (NASDAQ:META) Shares Bought by PBMares Wealth Management LLC

PBMares Wealth Management LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,718 shares of the social networking company’s stock after acquiring an additional 18 shares during the period. PBMares Wealth Management LLC’s holdings in Meta Platforms were worth $984,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 831,047 shares during the last quarter. Capital World Investors lifted its stake in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares during the period. Jennison Associates LLC grew its stake in shares of 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 valued at $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC lifted its stake in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after acquiring an additional 342,742 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total value of $252,071.40. Following the completion of the sale, the chief executive officer now directly owns 518,004 shares in the company, valued at $310,890,460.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 420 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total value of $252,071.40. Following the completion of the sale, the chief executive officer now directly owns 518,004 shares of the company’s stock, valued at $310,890,460.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 251,993 shares of company stock worth $133,271,982 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on META. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. TD Securities increased their target price on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Wolfe Research began coverage on Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price on the stock. BMO Capital Markets increased their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Jefferies Financial Group upped their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two investment 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 assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Down 0.1 %

Shares of NASDAQ META opened at $567.16 on Friday. Meta Platforms, Inc. has a 1 year low of $308.33 and a 1 year high of $602.95. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.44 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. The stock’s 50-day simple moving average is $555.99 and its 200-day simple moving average is $513.03.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 21.47 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Meta Platforms 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.