Xcel Wealth Management LLC Purchases 60 Shares of Meta Platforms, Inc. (NASDAQ:META)

Xcel Wealth Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,004 shares of the social networking company’s stock after buying an additional 60 shares during the period. Xcel Wealth Management LLC’s holdings in Meta Platforms were worth $2,864,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Sequoia Financial Advisors LLC boosted its stake in Meta Platforms by 27.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 157,388 shares of the social networking company’s stock worth $90,095,000 after purchasing an additional 34,364 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Meta Platforms in the third quarter worth $12,707,000. Dock Street Asset Management Inc. boosted its position in shares of Meta Platforms by 2.9% during the third quarter. Dock Street Asset Management Inc. now owns 50,044 shares of the social networking company’s stock worth $28,647,000 after acquiring an additional 1,402 shares during the last quarter. Argus Investors Counsel Inc. grew its stake in Meta Platforms by 4.5% during the third quarter. Argus Investors Counsel Inc. now owns 6,474 shares of the social networking company’s stock valued at $3,706,000 after acquiring an additional 276 shares in the last quarter. Finally, Harbor Advisory Corp MA bought a new stake in Meta Platforms in the 3rd quarter valued at $206,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. DA Davidson initiated coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Robert W. Baird increased their target price on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Rosenblatt Securities boosted their price target on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Stifel Nicolaus increased their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $619.20.

Meta Platforms Trading Down 3.1 %

NASDAQ META opened at $563.69 on Thursday. The company’s 50-day simple moving average is $548.79 and its two-hundred day simple moving average is $509.61. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.23 earnings per share. Equities analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,912 shares of company stock valued at $132,027,612 over the last quarter. 13.71% of the stock is owned by corporate insiders.

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.