Shulman DeMeo Asset Management LLC Purchases 139 Shares of Meta Platforms, Inc. (NASDAQ:META)

Shulman DeMeo Asset Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,381 shares of the social networking company’s stock after buying an additional 139 shares during the quarter. Meta Platforms accounts for 0.8% of Shulman DeMeo Asset Management LLC’s portfolio, making the stock its 13th largest position. Shulman DeMeo Asset Management LLC’s holdings in Meta Platforms were worth $3,081,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of META. Delos Wealth Advisors LLC increased its stake 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 purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its stake in shares of 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 buying an additional 44 shares during the period. Richardson Financial Services Inc. increased its stake 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 buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Meta Platforms during the first quarter valued at approximately $44,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on META. Evercore ISI upped their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. DA Davidson began coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Jefferies Financial Group upped their price target on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets upped their price target on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $613.46.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total value of $533,850.45. Following the transaction, the insider now directly owns 34,197 shares in the company, valued at approximately $20,172,468.33. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total value of $533,850.45. Following the completion of the sale, the insider now directly owns 34,197 shares of the company’s stock, valued at $20,172,468.33. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 249,826 shares of company stock worth $131,791,613. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock traded down $4.15 during mid-day trading on Tuesday, hitting $586.27. The company had a trading volume of 9,305,489 shares, compared to its average volume of 15,295,805. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The stock’s 50 day moving average price is $540.41 and its 200-day moving average price is $506.41. 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 company has a market capitalization of $1.49 trillion, a P/E ratio of 33.73, a P/E/G ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the business posted $3.23 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. Equities research analysts forecast that Meta Platforms, Inc. will post 21.37 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. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 11.49%.

About Meta Platforms

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.