Global Retirement Partners LLC Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Global Retirement Partners LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,988 shares of the social networking company’s stock after purchasing an additional 1,784 shares during the period. Meta Platforms accounts for about 0.7% of Global Retirement Partners LLC’s holdings, making the stock its 25th biggest holding. Global Retirement Partners LLC’s holdings in Meta Platforms were worth $22,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Good Life Advisors LLC lifted its holdings in Meta Platforms by 12.6% in the 3rd quarter. Good Life Advisors LLC now owns 11,569 shares of the social networking company’s stock worth $6,624,000 after buying an additional 1,299 shares in the last quarter. Avaii Wealth Management LLC lifted its holdings in Meta Platforms by 4.0% in the 3rd quarter. Avaii Wealth Management LLC now owns 11,654 shares of the social networking company’s stock worth $6,671,000 after buying an additional 453 shares in the last quarter. Summit Financial Strategies Inc. lifted its holdings in Meta Platforms by 38.2% in the 3rd quarter. Summit Financial Strategies Inc. now owns 568 shares of the social networking company’s stock worth $325,000 after buying an additional 157 shares in the last quarter. nVerses Capital LLC acquired a new position in Meta Platforms in the 3rd quarter worth $343,000. Finally, Perigon Wealth Management LLC lifted its holdings in Meta Platforms by 1.8% in the 3rd quarter. Perigon Wealth Management LLC now owns 73,867 shares of the social networking company’s stock worth $42,284,000 after buying an additional 1,282 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.0 %

Meta Platforms stock opened at $576.93 on Friday. The firm has a 50 day simple moving average of $545.36 and a 200-day simple moving average of $508.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market capitalization of $1.46 trillion, a PE ratio of 33.14, 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.

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

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday. Roth Mkm upped their target price on shares of Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird upped their target price on shares of Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $617.37.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the completion of the sale, the insider now directly owns 33,292 shares of the company’s stock, valued at $19,641,281.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total transaction of $190,756.00. Following the completion of the sale, the chief operating officer now directly owns 5,559 shares of the company’s stock, valued at $2,573,817. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the completion of the sale, the insider now owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,816 shares of company stock valued at $132,421,828 over the last ninety days. Insiders own 13.71% of the company’s stock.

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.