Diversify Advisory Services LLC Acquires 27,139 Shares of Meta Platforms, Inc. (NASDAQ:META)

Diversify Advisory Services LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 47.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,120 shares of the social networking company’s stock after buying an additional 27,139 shares during the period. Meta Platforms comprises approximately 2.6% of Diversify Advisory Services LLC’s portfolio, making the stock its 6th largest position. Diversify Advisory Services LLC’s holdings in Meta Platforms were worth $48,959,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC boosted its position 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 worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its position in 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 buying an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on META shares. Morgan Stanley boosted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BMO Capital Markets boosted their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday. Guggenheim boosted their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Tigress Financial boosted their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Finally, The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.37.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated 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 $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’s 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 filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $15,034,122.60. This trade 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 251,573 shares of company stock valued at $133,019,910. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $567.58 on Friday. The company’s 50-day moving average is $555.21 and its 200 day moving average is $512.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market capitalization of $1.44 trillion, a P/E ratio of 32.60, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $296.86 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis 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 currently 11.49%.

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.