OneDigital Investment Advisors LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

OneDigital Investment Advisors LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,343 shares of the social networking company’s stock after purchasing an additional 188 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Meta Platforms were worth $24,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of META. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. boosted its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms in the 3rd quarter worth about $46,000. West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter worth about $49,000. Finally, NewSquare Capital LLC lifted its stake in Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after acquiring an additional 71 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at $17,360,833.70. This represents a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,498 shares of company stock worth $75,732,154 over the last three months. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $554.08 on Monday. The firm has a fifty day simple moving average of $568.11 and a two-hundred day simple moving average of $521.17. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a PEG ratio of 1.23 and a beta of 1.22.

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

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. JMP Securities increased their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Sanford C. Bernstein raised their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Roth Mkm increased their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Finally, Stifel Nicolaus upped their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $634.10.

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.