Meta Platforms, Inc. (NASDAQ:META) Position Raised by Veracity Capital LLC

Veracity Capital LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,394 shares of the social networking company’s stock after acquiring an additional 90 shares during the period. Meta Platforms accounts for 0.7% of Veracity Capital LLC’s portfolio, making the stock its 21st biggest holding. Veracity Capital LLC’s holdings in Meta Platforms were worth $1,943,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Wealth Alliance Advisory Group LLC grew its holdings in Meta Platforms by 6.3% in the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 4,985 shares of the social networking company’s stock worth $2,854,000 after buying an additional 297 shares in the last quarter. Waypoint Capital Advisors LLC raised its stake in Meta Platforms by 4.5% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 2,424 shares of the social networking company’s stock valued at $1,388,000 after acquiring an additional 104 shares in the last quarter. Warren Street Wealth Advisors LLC boosted its position in Meta Platforms by 5.6% during the 3rd quarter. Warren Street Wealth Advisors LLC now owns 2,836 shares of the social networking company’s stock worth $1,623,000 after acquiring an additional 151 shares during the period. WestHill Financial Advisors Inc. grew its stake in shares of Meta Platforms by 3.7% in the third quarter. WestHill Financial Advisors Inc. now owns 704 shares of the social networking company’s stock worth $403,000 after purchasing an additional 25 shares in the last quarter. Finally, Cadent Capital Advisors LLC bought a new stake in shares of Meta Platforms during the third quarter valued at about $236,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.2 %

NASDAQ META opened at $575.16 on Tuesday. The company has a market capitalization of $1.46 trillion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm’s fifty day simple moving average is $547.72 and its 200-day simple moving average is $509.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the business earned $3.23 EPS. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 11.49%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on META. Morgan Stanley increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Rosenblatt Securities increased their price target on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Sanford C. Bernstein upped their price objective on Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $617.37.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the sale, the chief operating officer now owns 5,559 shares of the company’s stock, valued at approximately $2,573,817. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the sale, the chief operating officer now owns 5,559 shares of the company’s stock, valued at $2,573,817. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,911 shares of company stock worth $131,978,559 in the last 90 days. 13.71% of the stock is 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.