TSA Wealth Managment LLC Has $402,000 Position in Meta Platforms, Inc. (NASDAQ:META)

TSA Wealth Managment LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 702 shares of the social networking company’s stock after acquiring an additional 93 shares during the quarter. TSA Wealth Managment LLC’s holdings in Meta Platforms were worth $402,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. LS Investment Advisors LLC boosted its holdings in Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after purchasing an additional 6,155 shares in the last quarter. Gradient Investments LLC lifted its position in shares of Meta Platforms by 8.9% in the second 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. boosted its stake in shares of Meta Platforms by 0.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after acquiring an additional 65 shares in the last quarter. Stanley Laman Group Ltd. increased its holdings in shares of Meta Platforms by 26.5% during the 2nd 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. Finally, Janney Montgomery Scott LLC raised its stake in shares of Meta Platforms by 1.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after acquiring an additional 5,594 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $531.46, for a total value of $8,876,444.92. Following the completion of the sale, the chief executive officer now directly owns 11,384 shares in the company, valued at $6,050,140.64. This trade represents a 59.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total transaction of $469,740.25. Following the transaction, the insider now owns 39,627 shares in the company, valued at approximately $20,568,394.35. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,593 shares of company stock worth $75,253,970 in the last quarter. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on META shares. Sanford C. Bernstein upped their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Oppenheimer upped their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Bank of America lifted their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock 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 assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Price Performance

Meta Platforms stock opened at $554.40 on Tuesday. The business’s fifty day moving average is $569.10 and its two-hundred day moving average is $521.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market cap of $1.40 trillion, a P/E ratio of 26.11, a P/E/G ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 business 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%. Equities research analysts forecast 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.