FDx Advisors Inc. Has $1.89 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

FDx Advisors Inc. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,297 shares of the social networking company’s stock after selling 114 shares during the period. FDx Advisors Inc.’s holdings in Meta Platforms were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of META. Delos Wealth Advisors LLC raised its stake in shares of Meta Platforms by 527.3% in 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 period. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms in the 3rd quarter worth approximately $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $528.38, for a total value of $478,183.90. Following the completion of the sale, the insider now directly owns 40,532 shares of the company’s stock, valued at $21,416,298.16. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 7,975 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total value of $4,117,971.00. Following the transaction, the chief executive officer now owns 531,884 shares of the company’s stock, valued at approximately $274,643,622.24. This represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,200 shares of company stock valued at $84,533,106. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

META has been the topic of several research analyst reports. Piper Sandler boosted their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. UBS Group lifted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Mizuho lifted their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Susquehanna lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Finally, Barclays boosted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $577.16 on Friday. The business’s 50 day moving average price is $565.83 and its 200 day moving average price is $518.72. The firm has a market cap of $1.46 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.29 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. 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 (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.