Mitchell Mcleod Pugh & Williams Inc. Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,719 shares of the social networking company’s stock after acquiring an additional 150 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Meta Platforms were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC boosted its position 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 worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its holdings 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 last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms in the third quarter worth about $46,000. Finally, J.Safra Asset Management Corp purchased a new position in Meta Platforms in the first quarter valued at about $47,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares of the company’s stock, valued at $19,197,043.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares in the company, valued at approximately $19,197,043.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now directly owns 338,662 shares in the company, valued at $188,810,838.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,807 shares of company stock worth $93,851,617. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $580.00 on Thursday. 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 stock has a market cap of $1.46 trillion, a PE ratio of 27.32, a PEG ratio of 1.29 and a beta of 1.22. The company’s fifty day moving average is $564.48 and its 200 day moving average is $518.29. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Upgrades and Downgrades

META has been the subject of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Evercore ISI upped their price target on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Sanford C. Bernstein upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Pivotal Research boosted their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $634.10.

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.