Visionary Horizons LLC Purchases New Stake in Meta Platforms, Inc. (NASDAQ:META)

Visionary Horizons LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 580 shares of the social networking company’s stock, valued at approximately $332,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC boosted its position in 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 during the period. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its position 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 worth $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. boosted its position in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Finally, Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter worth about $46,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. 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 available at this link. In related news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. 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 available at this link. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Friday, August 9th. The shares were sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the sale, the chief executive officer now owns 98,654 shares in the company, valued at approximately $50,618,380.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,040 shares of company stock worth $132,361,588 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of a number of research reports. KeyCorp increased their target price on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Pivotal Research increased their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. JMP Securities raised their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Stock Down 1.1 %

Shares of NASDAQ META opened at $560.68 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The firm’s fifty day moving average is $556.78 and its 200 day moving average is $513.67. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.41, a PEG ratio of 1.36 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities research analysts expect that Meta Platforms, Inc. will post 21.84 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

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.