Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,483 shares of the social networking company’s stock after purchasing an additional 199 shares during the quarter. Meta Platforms makes up 0.8% of Hutchens & Kramer Investment Management Group LLC’s holdings, making the stock its 29th largest position. Hutchens & Kramer Investment Management Group LLC’s holdings in Meta Platforms were worth $1,432,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of META. Delos Wealth Advisors LLC increased 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 worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. increased its stake in 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 buying an additional 44 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Meta Platforms during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.7 %

Shares of NASDAQ:META opened at $586.27 on Wednesday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The firm’s 50 day moving average price is $542.26 and its 200 day moving average price is $507.12. The stock has a market cap of $1.49 trillion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

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

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

META has been the subject of several research reports. Scotiabank initiated coverage on Meta Platforms in a research report on Friday, October 11th. They set a “sector perform” rating and a $585.00 price target for the company. Pivotal Research assumed coverage on shares of Meta Platforms in a research report on Tuesday, October 1st. They set a “buy” rating and a $780.00 price target on the stock. Bank of America upped their target price on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Finally, KeyCorp upped their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $613.46.

Insider Transactions at Meta Platforms

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

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.