Axiom Advisory LLC Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Axiom Advisory LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,080 shares of the social networking company’s stock after purchasing an additional 613 shares during the period. Axiom Advisory LLC’s holdings in Meta Platforms were worth $21,799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Alpha Cubed Investments LLC lifted its stake in Meta Platforms by 13.7% in the third quarter. Alpha Cubed Investments LLC now owns 123,716 shares of the social networking company’s stock worth $70,820,000 after acquiring an additional 14,890 shares during the period. Cardinal Point Capital Management ULC bought a new position in Meta Platforms in the 3rd quarter worth $347,000. Callan Family Office LLC lifted its position in shares of Meta Platforms by 75.7% in the 3rd quarter. Callan Family Office LLC now owns 1,692 shares of the social networking company’s stock worth $969,000 after purchasing an additional 729 shares during the period. Kesler Norman & Wride LLC boosted its stake in shares of Meta Platforms by 10.7% during the 3rd quarter. Kesler Norman & Wride LLC now owns 7,157 shares of the social networking company’s stock valued at $4,097,000 after purchasing an additional 694 shares in the last quarter. Finally, Aprio Wealth Management LLC increased its position in shares of Meta Platforms by 2.4% during the third quarter. Aprio Wealth Management LLC now owns 2,820 shares of the social networking company’s stock valued at $1,614,000 after buying an additional 65 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 282,621 shares of company stock valued at $148,657,449 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $584.78 on Tuesday. The firm has a market capitalization 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 debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The business has a fifty day moving average of $529.45 and a 200 day moving average of $503.17.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

META has been the topic of several research reports. Wolfe Research initiated coverage on Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective on the stock. Roth Mkm upped their price target on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Tigress Financial increased their price objective on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and set a $660.00 target price on shares of Meta Platforms in a report on Monday. Finally, TD Securities increased their price target on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $601.08.

Meta Platforms 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.