Proactive Wealth Strategies LLC Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Proactive Wealth Strategies LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) during the third quarter, Holdings Channel.com reports. The firm acquired 2,009 shares of the social networking company’s stock, valued at approximately $1,150,000.

A number of other institutional investors have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its position in Meta Platforms by 48.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after buying an additional 16,138 shares during the period. Empowered Funds LLC increased its position in Meta Platforms by 22.4% in the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock worth $32,629,000 after buying an additional 12,301 shares during the period. Cypress Asset Management Inc. TX increased its position in Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after buying an additional 3,224 shares during the period. Fortis Capital Advisors LLC increased its position in Meta Platforms by 13.9% in the 1st quarter. Fortis Capital Advisors LLC now owns 10,701 shares of the social networking company’s stock worth $5,196,000 after buying an additional 1,307 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Meta Platforms by 20.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,796,010 shares of the social networking company’s stock worth $1,357,687,000 after buying an additional 480,468 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $526.94, for a total value of $8,800,951.88. Following the transaction, the chief executive officer now owns 46,292 shares in the company, valued at approximately $24,393,106.48. This trade represents a 26.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,200 shares of company stock worth $84,533,106 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $554.08 on Friday. The stock has a 50 day moving average price of $568.11 and a 200 day moving average price of $519.97. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $1.40 trillion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio is 9.42%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on META shares. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Tigress Financial lifted their price objective on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. UBS Group lifted their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Roth Mkm boosted their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

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.