Iron Horse Wealth Management LLC Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Iron Horse Wealth Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 189.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110 shares of the social networking company’s stock after buying an additional 72 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Meta Platforms were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gradient Investments LLC boosted its stake in shares of Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after purchasing an additional 5,953 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Meta Platforms by 14.0% during the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after purchasing an additional 748,076 shares during the period. ERn Financial LLC boosted its stake in shares of Meta Platforms by 59.0% during the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock valued at $802,000 after purchasing an additional 613 shares during the period. Stanley Laman Group Ltd. boosted its stake in shares of Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after purchasing an additional 352 shares during the period. Finally, Lincoln National Corp boosted its stake in shares of Meta Platforms by 7.8% during the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock valued at $16,894,000 after purchasing an additional 2,504 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,817 shares of company stock valued at $132,547,715 in the last three months. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent analyst reports. Susquehanna boosted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. TD Cowen lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Sanford C. Bernstein lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their price objective on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Two 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $621.63.

Meta Platforms Trading Up 1.0 %

Meta Platforms stock opened at $573.25 on Friday. 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 12 month low of $279.40 and a 12 month high of $602.95. The stock’s 50 day simple moving average is $551.05 and its two-hundred day simple moving average is $510.76. The firm has a market cap of $1.45 trillion, a PE ratio of 32.93, a P/E/G ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share 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 return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.23 EPS. Analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

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.