Waterway Wealth Management LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Waterway Wealth Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 146.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,137 shares of the social networking company’s stock after purchasing an additional 675 shares during the quarter. Waterway Wealth Management LLC’s holdings in Meta Platforms were worth $651,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in META. Delos Wealth Advisors LLC increased its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Meta Platforms in the first quarter worth approximately $44,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the transaction, the chief operating officer now owns 11,120 shares of the company’s stock, valued at $6,456,828. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated 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 $6,456,828. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,912 shares of company stock worth $132,027,612. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Down 3.1 %

Shares of META opened at $563.69 on Thursday. The company’s fifty day simple moving average is $548.79 and its 200-day simple moving average is $509.61. The company has a market cap of $1.43 trillion, a P/E ratio of 32.38, a P/E/G ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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 business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.23 earnings per share. As a group, analysts expect 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. Shareholders of record on Monday, September 16th were paid 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 payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

META has been the topic of several recent research reports. Morgan Stanley increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Scotiabank assumed coverage on Meta Platforms in a research report on Friday, October 11th. They issued a “sector perform” rating and a $585.00 price target for the company. Roth Mkm lifted their price objective on Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. 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, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $619.20.

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.