Meta Platforms, Inc. (NASDAQ:META) Stock Position Raised by Mayfair Advisory Group LLC

Mayfair Advisory Group LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 498 shares of the social networking company’s stock after buying an additional 82 shares during the period. Mayfair Advisory Group LLC’s holdings in Meta Platforms were worth $297,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Convergence Financial LLC boosted its stake in Meta Platforms by 10.1% during the 3rd quarter. Convergence Financial LLC now owns 6,087 shares of the social networking company’s stock valued at $3,485,000 after purchasing an additional 556 shares during the period. Capital Management Associates Inc boosted its stake in Meta Platforms by 6.5% during the 3rd quarter. Capital Management Associates Inc now owns 1,643 shares of the social networking company’s stock valued at $941,000 after purchasing an additional 100 shares during the period. Joel Isaacson & Co. LLC boosted its stake in Meta Platforms by 5.4% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 46,010 shares of the social networking company’s stock valued at $26,338,000 after purchasing an additional 2,360 shares during the period. Shayne & Jacobs LLC acquired a new position in Meta Platforms during the 3rd quarter valued at about $203,000. Finally, Trueblood Wealth Management LLC boosted its stake in Meta Platforms by 3.4% during the 3rd quarter. Trueblood Wealth Management LLC now owns 617 shares of the social networking company’s stock valued at $353,000 after purchasing an additional 20 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the 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 completion of the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of 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 trade 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 ninety days. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on META. Oppenheimer boosted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Robert W. Baird upped their price target on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Finally, TD Securities upped their price target on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $621.63.

Meta Platforms Price Performance

NASDAQ META opened at $578.16 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $552.03 and a 200 day simple moving average of $511.04. The company has a market cap of $1.47 trillion, a P/E ratio of 33.21, a P/E/G ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $296.86 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) 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 net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.23 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.