Symphony Financial Ltd. Co. Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

Symphony Financial Ltd. Co. raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 14.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,702 shares of the social networking company’s stock after buying an additional 714 shares during the period. Symphony Financial Ltd. Co.’s holdings in Meta Platforms were worth $3,245,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. RBA Wealth Management LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at about $4,870,000. Waldron Private Wealth LLC raised its holdings in Meta Platforms by 2.0% in the third quarter. Waldron Private Wealth LLC now owns 26,964 shares of the social networking company’s stock valued at $15,435,000 after acquiring an additional 526 shares in the last quarter. Leo Wealth LLC lifted its stake in Meta Platforms by 17.5% in the third quarter. Leo Wealth LLC now owns 7,642 shares of the social networking company’s stock worth $4,375,000 after acquiring an additional 1,137 shares during the last quarter. Eastern Bank grew its holdings in Meta Platforms by 70.3% during the 3rd quarter. Eastern Bank now owns 156,566 shares of the social networking company’s stock worth $89,625,000 after acquiring an additional 64,618 shares in the last quarter. Finally, My Legacy Advisors LLC increased its position in shares of Meta Platforms by 17.5% in the 3rd quarter. My Legacy Advisors LLC now owns 1,329 shares of the social networking company’s stock valued at $761,000 after purchasing an additional 198 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.7 %

Shares of Meta Platforms stock opened at $567.78 on Friday. The company has a 50-day moving average of $549.53 and a two-hundred day moving average of $509.99. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.44 trillion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the business posted $3.23 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

META has been the subject of several recent analyst reports. Loop Capital lifted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Truist Financial boosted their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Evercore ISI increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned 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 stock has a consensus rating of “Moderate Buy” and an average target price of $619.20.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. 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 accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the company’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 sale, the insider now owns 33,292 shares in the company, valued at $19,641,281.24. This 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 have sold 250,817 shares of company stock valued at $132,547,715. 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.