TruWealth Advisors LLC Buys 673 Shares of Meta Platforms, Inc. (NASDAQ:META)

TruWealth Advisors LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,145 shares of the social networking company’s stock after acquiring an additional 673 shares during the quarter. TruWealth Advisors LLC’s holdings in Meta Platforms were worth $9,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC raised its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% during the second 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 period. Richardson Financial Services Inc. lifted its position in shares of Meta Platforms by 95.6% in 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 in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms in the first quarter worth about $44,000. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Pivotal Research assumed coverage on shares of Meta Platforms in a report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 target price on the stock. Guggenheim raised their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Raymond James boosted their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Scotiabank began 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. 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 issued 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 a consensus price target of $617.37.

Meta Platforms Trading Down 0.1 %

Meta Platforms stock opened at $576.47 on Friday. The stock has a 50-day moving average price of $546.53 and a 200 day moving average price of $508.68. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. 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 released its quarterly earnings data 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 net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the prior year, the firm earned $3.23 EPS. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00. Following the completion of the transaction, the insider now directly owns 35,130 shares in the company, valued at approximately $17,206,674. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction on Monday, October 14th. The shares were 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 owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00. Following the sale, the insider now directly owns 35,130 shares in the company, valued at approximately $17,206,674. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,816 shares of company stock worth $132,421,828 over the last quarter. 13.71% of the stock is currently owned by insiders.

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.