DeDora Capital Inc. Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

DeDora Capital Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.1% during the 3rd quarter, Holdings Channel reports. The firm owned 5,827 shares of the social networking company’s stock after buying an additional 582 shares during the period. Meta Platforms makes up about 0.9% of DeDora Capital Inc.’s holdings, making the stock its 27th biggest position. DeDora Capital Inc.’s holdings in Meta Platforms were worth $3,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Central Valley Advisors LLC lifted its holdings in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares during the period. Cherrydale Wealth Management LLC grew its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares in the last quarter. Kozak & Associates Inc. lifted its stake in shares of Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the period. Finally, Firethorn Wealth Partners LLC boosted its holdings in Meta Platforms by 1.8% during the third quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock worth $615,000 after buying an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $563.69 on Thursday. The firm has a fifty day moving average of $548.79 and a 200-day moving average of $509.61. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 32.38, a PEG ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the company earned $3.23 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. As a group, analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business 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 of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on META shares. TD Cowen boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Susquehanna boosted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. KeyCorp boosted their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Truist Financial raised their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $619.20.

Insider Buying and Selling

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $580.65, for a total transaction of $239,808.45. Following the sale, the chief operating officer now owns 11,120 shares in the company, valued at $6,456,828. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. 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 the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $580.65, for a total value of $239,808.45. Following the sale, the chief operating officer now owns 11,120 shares in the company, valued at $6,456,828. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 249,912 shares of company stock valued at $132,027,612. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

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.