Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 89.5% during the third quarter, HoldingsChannel reports. The firm owned 6,410 shares of the social networking company’s stock after purchasing an additional 3,027 shares during the period. Meta Platforms comprises 0.6% of Legacy Capital Wealth Partners LLC’s holdings, making the stock its 24th biggest position. Legacy Capital Wealth Partners LLC’s holdings in Meta Platforms were worth $3,669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC raised its holdings 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 acquiring an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. purchased a new position in shares of Meta Platforms during the 3rd quarter worth $46,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of Meta Platforms during the 1st quarter worth $47,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $580.00 on Thursday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a 50 day simple moving average of $564.48 and a 200-day simple moving average of $518.29. The stock has a market capitalization of $1.46 trillion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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. 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 during the quarter, compared to analysts’ expectations of $40.21 billion. Equities analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on META. Pivotal Research boosted their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley lifted their target price on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company dropped their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $529.09, for a total transaction of $8,836,861.18. Following the transaction, the chief executive officer now owns 55,019 shares of the company’s stock, valued at $29,110,002.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $529.09, for a total value of $8,836,861.18. Following the sale, the chief executive officer now owns 55,019 shares of the company’s stock, valued at approximately $29,110,002.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $528.38, for a total value of $478,183.90. Following the completion of the sale, the insider now directly owns 40,532 shares in the company, valued at $21,416,298.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,807 shares of company stock valued at $93,851,617 over the last quarter. Company insiders own 13.71% of the company’s stock.

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.