Ignite Planners LLC Sells 122 Shares of Meta Platforms, Inc. (NASDAQ:META)

Ignite Planners LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,552 shares of the social networking company’s stock after selling 122 shares during the quarter. Meta Platforms comprises approximately 1.0% of Ignite Planners LLC’s investment portfolio, making the stock its 24th largest position. Ignite Planners LLC’s holdings in Meta Platforms were worth $4,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. grew its stake in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $46,000. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the subject of a number of research analyst reports. DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target for the company. 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 research report on Wednesday, October 2nd. Guggenheim raised their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday. Barclays boosted their price target on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, JMP Securities increased their price objective on shares of Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, two have given 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 data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $601.08.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $578.55, for a total transaction of $523,587.75. Following the sale, the insider now directly owns 35,102 shares of the company’s stock, valued at $20,308,262.10. 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. Also, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 282,621 shares of company stock worth $148,657,449. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $584.78 on Tuesday. The business has a 50 day moving average of $527.07 and a two-hundred day moving average of $502.63. The company has a market cap of $1.48 trillion, a P/E ratio of 33.59, a PEG ratio of 1.39 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the business posted $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 0.34%. Meta Platforms’s dividend payout ratio is 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.