2,370 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Objective Capital Management LLC

Objective Capital Management LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the third quarter, HoldingsChannel.com reports. The fund acquired 2,370 shares of the social networking company’s stock, valued at approximately $1,357,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms during the third quarter valued at $46,000. Finally, J.Safra Asset Management Corp bought a new position in Meta Platforms during the first quarter valued at $47,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

META opened at $584.82 on Wednesday. The firm’s 50-day moving average price is $563.02 and its 200-day moving average price is $517.29. The company has a market cap of $1.48 trillion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $529.09, for a total value of $8,836,861.18. Following the transaction, the chief executive officer now owns 55,019 shares in the company, valued at approximately $29,110,002.71. This represents 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 link. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $529.09, for a total value of $8,836,861.18. Following the transaction, the chief executive officer now owns 55,019 shares of the company’s stock, valued at $29,110,002.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 194,714 shares of company stock worth $103,811,069 over the last three months. 13.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on META. Jefferies Financial Group upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley lifted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Oppenheimer raised their price target on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Bank of America lifted their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Mizuho increased their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $634.10.

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.