Alliance Wealth Advisors LLC Buys 18 Shares of Meta Platforms, Inc. (NASDAQ:META)

Alliance Wealth Advisors LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 2,787 shares of the social networking company’s stock after purchasing an additional 18 shares during the period. Meta Platforms accounts for approximately 0.9% of Alliance Wealth Advisors LLC’s portfolio, making the stock its 19th biggest position. Alliance Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its holdings 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 valued at $40,000 after acquiring an additional 44 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in shares of 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 acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased 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 Price Performance

NASDAQ:META opened at $576.79 on Thursday. The business’s 50-day moving average is $544.01 and its 200 day moving average is $507.60. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The company has a market capitalization of $1.46 trillion, a P/E ratio of 33.13, a P/E/G ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the firm earned $3.23 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. 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 (DPR) is currently 11.49%.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,911 shares of company stock worth $131,887,905 over the last three months. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on META shares. Piper Sandler lifted their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Scotiabank started coverage on Meta Platforms in a research report on Friday, October 11th. They set a “sector perform” rating and a $585.00 price objective for the company. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Stifel Nicolaus upped their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday. Finally, Tigress Financial raised their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $613.71.

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.