Pure Financial Advisors LLC Has $2.45 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Pure Financial Advisors LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 6.2% during the third quarter, HoldingsChannel.com reports. The fund owned 4,282 shares of the social networking company’s stock after purchasing an additional 251 shares during the period. Pure Financial Advisors LLC’s holdings in Meta Platforms were worth $2,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the third quarter worth about $46,000. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on META shares. Mizuho boosted their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. DA Davidson began coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. JMP Securities increased their target price on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Finally, Monness Crespi & Hardt upped their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the sale, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $513.09, for a total value of $8,569,629.18. Following the completion of the transaction, the chief executive officer now directly owns 98,654 shares in the company, valued at approximately $50,618,380.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,919 shares of company stock valued at $129,296,067. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

NASDAQ:META opened at $572.43 on Wednesday. The stock has a 50 day simple moving average of $556.78 and a 200 day simple moving average of $513.67. The stock has a market cap of $1.45 trillion, a P/E ratio of 26.96, a PEG ratio of 1.26 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Research analysts anticipate that Meta Platforms, Inc. will post 22.44 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. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is presently 9.42%.

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.