Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Increased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,716 shares of the social networking company’s stock after buying an additional 14,890 shares during the period. Meta Platforms makes up approximately 3.2% of Alpha Cubed Investments LLC’s holdings, making the stock its 8th largest holding. Alpha Cubed Investments LLC’s holdings in Meta Platforms were worth $70,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of META. Delos Wealth Advisors LLC increased its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% during the 2nd 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 in the last quarter. Halpern Financial Inc. acquired a new position in shares of Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, Richardson Financial Services Inc. lifted its stake in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 1.9 %

NASDAQ META opened at $584.78 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The business has a 50 day moving average price of $529.45 and a two-hundred day moving average price of $503.17. The stock has a market cap of $1.48 trillion, a PE ratio of 33.59, a P/E/G ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.23 earnings per share. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid 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 is presently 11.49%.

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Citigroup raised their price target on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Rosenblatt Securities lifted their price target on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Susquehanna boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $601.08.

Insider Activity

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total value of $8,916,696.74. Following the completion of the transaction, the chief executive officer now owns 151,918 shares of the company’s stock, valued at approximately $81,104,462.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $530.81, for a total transaction of $218,693.72. Following the sale, the chief operating officer now owns 6,383 shares in the company, valued at $3,388,160.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total value of $8,916,696.74. Following the transaction, the chief executive officer now directly owns 151,918 shares in the company, valued at approximately $81,104,462.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 282,621 shares of company stock worth $148,657,449 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

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.