HF Advisory Group LLC Has $4.39 Million Position in Meta Platforms, Inc. (NASDAQ:META)

HF Advisory Group LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,663 shares of the social networking company’s stock after buying an additional 1,299 shares during the quarter. Meta Platforms accounts for approximately 2.0% of HF Advisory Group LLC’s holdings, making the stock its 5th biggest holding. HF Advisory Group LLC’s holdings in Meta Platforms were worth $4,387,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in META. Gradient Investments LLC raised its stake in shares of Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares during the period. Stanley Laman Group Ltd. grew its holdings in Meta Platforms by 26.5% during the 2nd 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 last quarter. Cutter & CO Brokerage Inc. raised its position in Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares during the period. Janney Montgomery Scott LLC lifted its stake in Meta Platforms by 1.4% in the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after purchasing an additional 5,594 shares during the last quarter. Finally, BCGM Wealth Management LLC boosted its position in shares of Meta Platforms by 5.3% during the first quarter. BCGM Wealth Management LLC now owns 1,311 shares of the social networking company’s stock valued at $637,000 after buying an additional 66 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms 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 transaction, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the sale, the insider now owns 30,581 shares of the company’s stock, valued at $17,360,833.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,118 shares of company stock worth $121,237,935 over the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.4 %

Shares of META stock opened at $589.34 on Friday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The firm has a market capitalization of $1.49 trillion, a PE ratio of 27.76, a P/E/G ratio of 1.24 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock’s 50-day simple moving average is $560.42 and its 200-day simple moving average is $515.25.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Equities analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. Guggenheim raised their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Barclays boosted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Citigroup raised their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Company 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.