Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,832 shares of the social networking company’s stock after purchasing an additional 1,065 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Meta Platforms were worth $5,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors boosted its stake in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares during the period. Capital Research Global Investors increased its position in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Finally, GQG Partners LLC lifted its holdings in shares of Meta Platforms by 3.1% in the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after acquiring an additional 342,742 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.2 %

Meta Platforms stock opened at $575.16 on Tuesday. The stock’s 50 day moving average price is $547.72 and its 200 day moving average price is $509.22. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The company has a market cap of $1.46 trillion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.23 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Raymond James upped their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. Barclays boosted their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley increased their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two research 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $617.37.

Insider Activity

In related news, CFO Susan J. Li sold 8,950 shares of the company’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 value of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the firm’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 $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This trade represents 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 249,911 shares of company stock worth $131,978,559. Company insiders own 13.71% of the company’s stock.

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.