Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,985 shares of the social networking company’s stock after buying an additional 297 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Meta Platforms were worth $2,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Sustainable Growth Advisers LP purchased a new position in shares of Meta Platforms during the 2nd quarter valued at approximately $595,152,000. Global Assets Advisory LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at $515,383,000. Finally, Vanguard Group Inc. boosted its holdings in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.2 %

NASDAQ:META opened at $575.16 on Tuesday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The stock’s fifty day moving average is $547.72 and its two-hundred day moving average is $509.22. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. 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 posted its 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. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.23 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Oppenheimer lifted their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Citigroup upped their price target on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Mizuho raised their price objective on Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. JMP Securities upped their target price on Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 26th. Finally, KeyCorp lifted their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $617.37.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total value of $533,922.85. Following the completion of the transaction, the insider now owns 33,292 shares in the company, valued at $19,641,281.24. 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 the SEC website. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the completion of the transaction, the insider now owns 33,292 shares in the company, valued at approximately $19,641,281.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,911 shares of company stock worth $131,978,559 in the last ninety days. 13.71% of the stock is owned by corporate insiders.

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.