Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Naviter Wealth LLC

Naviter Wealth LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,753 shares of the social networking company’s stock after purchasing an additional 68 shares during the period. Meta Platforms accounts for 0.8% of Naviter Wealth LLC’s portfolio, making the stock its 28th largest position. Naviter Wealth LLC’s holdings in Meta Platforms were worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC grew its position 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 last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% in 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 period. Richardson Financial Services Inc. raised its stake in 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 in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Meta Platforms during the 1st quarter worth $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,816 shares of company stock valued at $132,421,828. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup raised their price target on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Loop Capital raised their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, DA Davidson started coverage on Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $617.37.

Meta Platforms Stock Up 0.0 %

META stock opened at $576.93 on Friday. The company has a 50 day moving average of $545.36 and a two-hundred day moving average of $508.09. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.14, a PEG 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. 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, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.23 earnings per share. On average, equities analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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