ACT Advisors LLC. Has $587,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

ACT Advisors LLC. grew its position in Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,025 shares of the social networking company’s stock after buying an additional 19 shares during the period. Meta Platforms makes up 0.3% of ACT Advisors LLC.’s portfolio, making the stock its 28th largest position. ACT Advisors LLC.’s holdings in Meta Platforms were worth $587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Central Valley Advisors LLC lifted its position in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares during the period. Kozak & Associates Inc. raised its holdings in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the period. Finally, Firethorn Wealth Partners LLC raised its holdings in shares of Meta Platforms by 1.8% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock valued at $615,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the completion of the transaction, the insider now owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total transaction of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares of the company’s stock, valued at $19,641,281.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,911 shares of company stock valued at $131,978,559. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on META. Wells Fargo & Company upped their target price 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. Susquehanna upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. DA Davidson assumed coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price on the stock. Bank of America increased their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Barclays increased their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $617.37.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $575.16 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 33.04, a P/E/G ratio of 1.45 and a beta of 1.22. The company’s 50 day moving average price is $547.72 and its two-hundred day moving average price is $509.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates 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. On average, equities analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal 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 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio 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.