Reston Wealth Management LLC Purchases Shares of 107 Meta Platforms, Inc. (NASDAQ:META)

Reston Wealth Management LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 3rd quarter, HoldingsChannel reports. The fund purchased 107 shares of the social networking company’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. Delos Wealth Advisors LLC grew its holdings 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 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 second quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the last quarter. Finally, Halpern Financial Inc. acquired a new position in shares of Meta Platforms during the third quarter valued at about $46,000. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total value of $252,071.40. Following the completion of the transaction, the chief executive officer now owns 518,004 shares of the company’s stock, valued at $310,890,460.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total value of $252,071.40. Following the completion of the transaction, the chief executive officer now owns 518,004 shares of the company’s stock, valued at $310,890,460.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 251,092 shares of company stock valued at $132,865,496 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JMP Securities boosted their price target on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a report on Thursday. Susquehanna boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Piper Sandler boosted their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Performance

Meta Platforms stock opened at $567.16 on Monday. The firm’s 50 day simple moving average is $555.99 and its 200 day simple moving average is $513.25. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $308.33 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, analysts expect that Meta Platforms, Inc. will post 21.84 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 9.42%.

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.