Community Financial Services Group LLC Acquires 426 Shares of Meta Platforms, Inc. (NASDAQ:META)

Community Financial Services Group LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,852 shares of the social networking company’s stock after acquiring an additional 426 shares during the quarter. Meta Platforms accounts for approximately 1.6% of Community Financial Services Group LLC’s portfolio, making the stock its 17th largest position. Community Financial Services Group LLC’s holdings in Meta Platforms were worth $7,929,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Central Valley Advisors LLC lifted its stake in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the period. Cherrydale Wealth Management LLC lifted its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after buying an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after buying an additional 18 shares in the last quarter. Kozak & Associates Inc. grew its position in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the period. Finally, Firethorn Wealth Partners LLC increased its stake in shares of Meta Platforms by 1.8% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock worth $615,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents 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 through the SEC website. In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the sale, the chief operating officer now owns 11,120 shares of the company’s stock, valued at approximately $6,456,828. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,324 shares of company stock valued at $132,218,368. 13.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

META has been the topic of a number of analyst reports. Scotiabank initiated coverage on Meta Platforms in a research report on Friday, October 11th. They issued a “sector perform” rating and a $585.00 price target on the stock. Wolfe Research initiated coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. UBS Group increased their price objective on shares of Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, Evercore ISI lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $619.20.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $582.01 on Wednesday. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 33.43, 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 quick ratio of 2.83 and a current ratio of 2.83. The stock has a 50 day moving average price of $547.72 and a 200-day moving average price of $509.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the firm earned $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued 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 yield of 0.34%. Meta Platforms’s payout ratio is 11.49%.

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.