Modera Wealth Management LLC Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Modera Wealth Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,365 shares of the social networking company’s stock after purchasing an additional 260 shares during the quarter. Modera Wealth Management LLC’s holdings in Meta Platforms were worth $4,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Delos Wealth Advisors LLC raised its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. increased its stake 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 during the period. Finally, Halpern Financial Inc. purchased a new position in shares of Meta Platforms in the third quarter worth $46,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on META shares. Monness Crespi & Hardt lifted their target price on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. TD Securities lifted their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. UBS Group lifted their price target on shares of Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, KeyCorp lifted their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $621.63.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $593.28 on Wednesday. Meta Platforms, Inc. has a fifty-two week low of $296.86 and a fifty-two week high of $602.95. The business has a 50-day simple moving average of $553.36 and a two-hundred day simple moving average of $511.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market cap of $1.50 trillion, a price-to-earnings ratio of 34.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22.

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, topping analysts’ consensus estimates 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 analyst estimates of $38.26 billion. During the same quarter in the previous year, the firm earned $3.23 EPS. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. On average, analysts expect that Meta Platforms, Inc. will post 21.44 earnings per share 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 given 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 payout ratio is currently 11.49%.

Insider Activity

In other news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $521.48, for a total transaction of $214,849.76. Following the sale, the chief operating officer now directly owns 5,147 shares of the company’s stock, valued at $2,684,057.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 251,230 shares of company stock valued at $132,784,843 in the last quarter. 13.71% of the stock is currently owned by insiders.

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.