Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Winthrop Advisory Group LLC

Winthrop Advisory Group LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 18.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,947 shares of the social networking company’s stock after acquiring an additional 1,075 shares during the period. Meta Platforms comprises about 0.5% of Winthrop Advisory Group LLC’s holdings, making the stock its 28th biggest position. Winthrop Advisory Group LLC’s holdings in Meta Platforms were worth $3,977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its position in Meta Platforms by 122.2% during 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. Halpern Financial Inc. acquired a new stake in Meta Platforms in the 3rd quarter worth about $46,000. Finally, J.Safra Asset Management Corp acquired a new stake in Meta Platforms in the 1st quarter worth about $47,000. 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 commented on META shares. Citigroup upped their price objective on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler increased their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. DA Davidson initiated coverage on Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Finally, Morgan Stanley lifted their target price on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

META opened at $589.34 on Monday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $561.78 and its 200 day moving average price is $516.29. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The firm has a market cap of $1.49 trillion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly 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 return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. 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 211,416 shares of company stock worth $112,638,243 in the last ninety days. 13.71% of the stock is 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.