My Legacy Advisors LLC Has $761,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

My Legacy Advisors LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 17.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,329 shares of the social networking company’s stock after buying an additional 198 shares during the period. My Legacy Advisors LLC’s holdings in Meta Platforms were worth $761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of META. Prentice Wealth Management LLC increased its holdings in shares of Meta Platforms by 4.1% during the first quarter. Prentice Wealth Management LLC now owns 1,798 shares of the social networking company’s stock worth $873,000 after buying an additional 70 shares in the last quarter. TB Alternative Assets Ltd. bought a new stake in Meta Platforms during the 1st quarter worth approximately $8,498,000. Counterpoint Mutual Funds LLC acquired a new stake in Meta Platforms during the 1st quarter valued at $641,000. Henrickson Nauta Wealth Advisors Inc. raised its position in Meta Platforms by 1.9% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock valued at $648,000 after purchasing an additional 23 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in Meta Platforms by 1.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 28,335 shares of the social networking company’s stock worth $13,759,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,912 shares of company stock valued at $132,027,612 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on META shares. Scotiabank started coverage on Meta Platforms in a report on Friday, October 11th. They issued a “sector perform” rating and a $585.00 price target for the company. DA Davidson initiated coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Barclays upped their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BMO Capital Markets raised their price target on shares of Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a report on Wednesday, October 9th. Finally, Monness Crespi & Hardt upped their price objective on Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $619.20.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $563.69 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The stock’s 50-day moving average is $548.79 and its 200-day moving average is $509.61.

Meta Platforms (NASDAQ:META) last released 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 return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the firm posted $3.23 EPS. The business’s revenue was up 22.1% on a year-over-year basis. Equities analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given 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 currently 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.