MGB Wealth Management LLC Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

MGB Wealth Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 870 shares of the social networking company’s stock after buying an additional 140 shares during the period. MGB Wealth Management LLC’s holdings in Meta Platforms were worth $498,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of META. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new position in Meta Platforms during the third quarter worth about $46,000. West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $49,000. Finally, NewSquare Capital LLC increased its position in shares of Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after buying an additional 71 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00. Following the sale, the insider now owns 38,722 shares in the company, valued at approximately $20,135,440. This trade represents a 2.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,218 shares of company stock worth $65,819,414 in the last ninety days. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group upped their target price 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. Scotiabank lowered their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Finally, JMP Securities upped 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 note on Thursday, October 31st. Two 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms Stock Performance

NASDAQ:META opened at $565.11 on Tuesday. The firm has a 50-day moving average of $573.38 and a two-hundred day moving average of $525.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market cap of $1.43 trillion, a P/E ratio of 26.62, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year 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 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, research analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid 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 dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.