Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by tru Independence LLC

tru Independence LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,668 shares of the social networking company’s stock after acquiring an additional 157 shares during the quarter. tru Independence LLC’s holdings in Meta Platforms were worth $1,527,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in META. Delos Wealth Advisors LLC lifted its position 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 purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. increased its stake in 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 buying an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.5 %

Shares of Meta Platforms stock opened at $577.16 on Friday. The company has a 50-day moving average of $565.83 and a two-hundred day moving average of $518.72. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a current ratio of 2.73, a quick 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 27.19, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during 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%. On average, research analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal 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 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 payout ratio is 9.42%.

Analysts Set New Price Targets

META has been the topic of a number of recent research reports. Tigress Financial upped their price objective on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Monness Crespi & Hardt upped their price target on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. UBS Group lifted their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Roth Mkm lifted their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two investment 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Activity

In other news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total value of $8,906,174.48. Following the sale, the chief executive officer now directly owns 28,838 shares in the company, valued at approximately $15,377,575.12. The trade was a 36.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,200 shares of company stock worth $84,533,106 over the last ninety days. 13.71% of the stock is currently owned by insiders.

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.