Vivid Wealth Management LLC Acquires 378 Shares of Meta Platforms, Inc. (NASDAQ:META)

Vivid Wealth Management LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,543 shares of the social networking company’s stock after purchasing an additional 378 shares during the quarter. Meta Platforms accounts for approximately 1.4% of Vivid Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Vivid Wealth Management LLC’s holdings in Meta Platforms were worth $2,601,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in META. Park Place Capital Corp increased its position in shares of Meta Platforms by 10.6% during the 1st quarter. Park Place Capital Corp now owns 3,718 shares of the social networking company’s stock worth $1,805,000 after purchasing an additional 357 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Meta Platforms in the first quarter valued at $345,000. Congress Wealth Management LLC DE increased its holdings in Meta Platforms by 34.3% during the first quarter. Congress Wealth Management LLC DE now owns 62,486 shares of the social networking company’s stock worth $30,342,000 after buying an additional 15,949 shares during the last quarter. WESPAC Advisors SoCal LLC raised its position in Meta Platforms by 43.6% during the first quarter. WESPAC Advisors SoCal LLC now owns 2,858 shares of the social networking company’s stock worth $1,388,000 after acquiring an additional 868 shares in the last quarter. Finally, Iams Wealth Management LLC lifted its stake in Meta Platforms by 135.9% in the first quarter. Iams Wealth Management LLC now owns 2,062 shares of the social networking company’s stock valued at $998,000 after acquiring an additional 1,188 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.2 %

Shares of NASDAQ:META opened at $591.80 on Thursday. 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, Inc. has a 1 year low of $296.86 and a 1 year high of $602.95. The company has a market cap of $1.50 trillion, a P/E ratio of 33.99, a PEG ratio of 1.42 and a beta of 1.22. The stock’s fifty day moving average price is $554.49 and its 200-day moving average price is $512.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the firm posted $3.23 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts expect that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the transaction, the chief operating officer now directly owns 10,707 shares of the company’s stock, valued at $6,147,531.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the transaction, the chief operating officer now owns 10,707 shares in the company, valued at $6,147,531.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,818 shares of company stock valued at $132,569,993. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Pivotal Research began coverage on Meta Platforms in a report on Tuesday, October 1st. They set a “buy” rating and a $780.00 target price on the stock. Barclays upped their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Loop Capital raised their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, four 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $621.63.

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.