Jackson Wealth Management LLC Has $5.97 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Jackson Wealth Management LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 71.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,424 shares of the social networking company’s stock after purchasing an additional 4,355 shares during the quarter. Jackson Wealth Management LLC’s holdings in Meta Platforms were worth $5,967,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Meta Platforms by 2.4% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 2,431 shares of the social networking company’s stock valued at $1,392,000 after purchasing an additional 57 shares during the period. Fiduciary Planning LLC raised its holdings in Meta Platforms by 11.4% in the 3rd quarter. Fiduciary Planning LLC now owns 1,309 shares of the social networking company’s stock valued at $750,000 after acquiring an additional 134 shares during the period. Commonwealth Financial Services LLC lifted its position in Meta Platforms by 7.3% during the third quarter. Commonwealth Financial Services LLC now owns 2,078 shares of the social networking company’s stock worth $1,198,000 after acquiring an additional 141 shares during the last quarter. Index Fund Advisors Inc. boosted its holdings in shares of Meta Platforms by 38.0% during the third quarter. Index Fund Advisors Inc. now owns 2,653 shares of the social networking company’s stock worth $1,518,000 after acquiring an additional 730 shares during the period. Finally, Greystone Financial Group LLC grew its position in shares of Meta Platforms by 6.4% in the third quarter. Greystone Financial Group LLC now owns 3,145 shares of the social networking company’s stock valued at $1,800,000 after purchasing an additional 190 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,817 shares of company stock worth $132,547,715 in the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $573.25 on Friday. 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 company has a market capitalization of $1.45 trillion, a PE ratio of 29.26, a P/E/G ratio of 1.42 and a beta of 1.22. The firm has a fifty day simple moving average of $551.05 and a 200 day simple moving average of $510.72. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.23 EPS. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 10.21%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on META. Piper Sandler lifted their price target on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. JMP Securities raised their price target on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 26th. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $621.63.

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.