Alliance Wealth Management Group Buys 150 Shares of Meta Platforms, Inc. (NASDAQ:META)

Alliance Wealth Management Group boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 12.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,356 shares of the social networking company’s stock after acquiring an additional 150 shares during the quarter. Alliance Wealth Management Group’s holdings in Meta Platforms were worth $776,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Boston Family Office LLC lifted its holdings in shares of Meta Platforms by 24.7% in the third quarter. Boston Family Office LLC now owns 2,036 shares of the social networking company’s stock valued at $1,165,000 after purchasing an additional 403 shares in the last quarter. Blue Whale Capital LLP raised its position in Meta Platforms by 32.4% in the 3rd quarter. Blue Whale Capital LLP now owns 137,129 shares of the social networking company’s stock valued at $78,498,000 after buying an additional 33,529 shares during the last quarter. MSA Advisors LLC lifted its stake in Meta Platforms by 130.9% in the 3rd quarter. MSA Advisors LLC now owns 26,324 shares of the social networking company’s stock valued at $15,069,000 after acquiring an additional 14,924 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Meta Platforms by 30.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 121,108 shares of the social networking company’s stock worth $69,313,000 after acquiring an additional 28,194 shares in the last quarter. Finally, Monolith Management Ltd acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $10,533,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group lifted their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Robert W. Baird increased their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Roth Mkm boosted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Monness Crespi & Hardt lifted their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two equities research 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $634.71.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,656 shares of company stock worth $61,933,867. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 1.5 %

META opened at $573.54 on Wednesday. The company has a market cap of $1.45 trillion, a P/E ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $573.38 and its 200-day moving average is $525.35. 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 earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities research analysts predict that Meta Platforms, Inc. will post 22.62 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 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio 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.