Meta Platforms, Inc. (NASDAQ:META) Stake Raised by United Advisor Group LLC

United Advisor Group LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 128.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,071 shares of the social networking company’s stock after purchasing an additional 5,095 shares during the period. Meta Platforms makes up 1.2% of United Advisor Group LLC’s portfolio, making the stock its 17th biggest holding. United Advisor Group LLC’s holdings in Meta Platforms were worth $5,193,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. raised its position in shares of Meta Platforms by 122.2% during the second 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 during the period. Richardson Financial Services Inc. lifted its holdings in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the sale, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the sale, the insider now owns 37,817 shares in the company, valued at approximately $19,197,043.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,118 shares of company stock valued at $121,237,935. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stifel Nicolaus boosted their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Morgan Stanley upped their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. UBS Group boosted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $591.70 on Friday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $558.95 and a 200 day simple moving average of $514.71. The firm has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 27.87, a PEG ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. 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 currently 9.42%.

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.