EdgeRock Capital LLC Buys 358 Shares of Meta Platforms, Inc. (NASDAQ:META)

EdgeRock Capital LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,271 shares of the social networking company’s stock after buying an additional 358 shares during the period. Meta Platforms makes up approximately 0.9% of EdgeRock Capital LLC’s holdings, making the stock its 16th largest holding. EdgeRock Capital LLC’s holdings in Meta Platforms were worth $1,300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Delos Wealth Advisors LLC grew its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. increased its stake in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. lifted its holdings in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms in the 1st quarter valued at about $44,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $474.86, for a total transaction of $195,642.32. Following the sale, the chief operating officer now owns 5,971 shares of the company’s stock, valued at $2,835,389.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $474.86, for a total transaction of $195,642.32. Following the sale, the chief operating officer now directly owns 5,971 shares of the company’s stock, valued at $2,835,389.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,239 shares of company stock worth $132,033,148. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

META has been the topic of a number of research reports. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Roth Mkm upped their target price on Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Susquehanna raised their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their price objective on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $613.46.

Meta Platforms Stock Down 0.7 %

META stock opened at $586.27 on Wednesday. The company has a market capitalization of $1.49 trillion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The firm’s fifty day simple moving average is $542.26 and its 200-day simple moving average is $507.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.23 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced 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. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.