Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Romano Brothers AND Company

Romano Brothers AND Company boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,346 shares of the social networking company’s stock after acquiring an additional 331 shares during the period. Romano Brothers AND Company’s holdings in Meta Platforms were worth $1,915,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Delos Wealth Advisors LLC increased its holdings in 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 during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. increased its holdings in shares of 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 acquiring an additional 44 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms during the first quarter worth approximately $44,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now owns 32,387 shares in the company, valued at approximately $18,612,808.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,817 shares of company stock valued at $132,547,715 over the last quarter. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on META shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. TD Cowen lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Mizuho upped their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Scotiabank started coverage on Meta Platforms in a research report on Friday, October 11th. They set a “sector perform” rating and a $585.00 target price on the stock. Finally, Wolfe Research started coverage on Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $621.63.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $573.25 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $551.05 and its 200 day moving average price is $510.76. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The stock has a market cap of $1.45 trillion, a price-to-earnings ratio of 32.93, a PEG ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping 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 business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the company posted $3.23 EPS. The company’s revenue was up 22.1% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal 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 given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 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.