4,680 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Net Worth Advisory Group

Net Worth Advisory Group purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,680 shares of the social networking company’s stock, valued at approximately $2,679,000. Meta Platforms makes up approximately 0.8% of Net Worth Advisory Group’s holdings, making the stock its 17th largest holding.

Other institutional investors also recently bought and sold shares of the company. Stratos Investment Management LLC boosted its position in shares of Meta Platforms by 35.8% in the third quarter. Stratos Investment Management LLC now owns 19,401 shares of the social networking company’s stock worth $11,106,000 after buying an additional 5,112 shares during the period. Stratos Wealth Advisors LLC lifted its position in Meta Platforms by 0.9% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 41,368 shares of the social networking company’s stock worth $23,681,000 after acquiring an additional 377 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Meta Platforms by 4.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 101,419 shares of the social networking company’s stock worth $58,056,000 after acquiring an additional 4,042 shares during the period. Strategic Advocates LLC grew its position in Meta Platforms by 70.5% in the third quarter. Strategic Advocates LLC now owns 7,349 shares of the social networking company’s stock valued at $4,207,000 after acquiring an additional 3,039 shares in the last quarter. Finally, OmniStar Financial Group Inc. raised its stake in shares of Meta Platforms by 6.9% during the third quarter. OmniStar Financial Group Inc. now owns 466 shares of the social networking company’s stock valued at $267,000 after purchasing an additional 30 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their target price on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. DA Davidson started 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. Morgan Stanley increased their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $617.37.

Meta Platforms Stock Performance

Shares of META stock opened at $576.47 on Friday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. 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 firm 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. The business has a 50 day simple moving average of $546.53 and a 200 day simple moving average of $508.76.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the business posted $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend 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 (DPR) is 11.49%.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 250,816 shares of company stock valued at $132,421,828. Company insiders own 13.71% of the company’s stock.

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.