Apollon Wealth Management LLC Buys 1,606 Shares of Meta Platforms, Inc. (NASDAQ:META)

Apollon Wealth Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,624 shares of the social networking company's stock after purchasing an additional 1,606 shares during the quarter. Meta Platforms accounts for 0.7% of Apollon Wealth Management LLC's holdings, making the stock its 26th largest position. Apollon Wealth Management LLC's holdings in Meta Platforms were worth $25,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Delos Wealth Advisors LLC grew 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 valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. boosted 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 valued at $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at $46,000. Finally, J.Safra Asset Management Corp acquired a new position in Meta Platforms in the 1st quarter worth about $47,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the subject of several recent research reports. Barclays upped their price objective on Meta Platforms from $550.00 to $630.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Rosenblatt Securities restated a "buy" rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Piper Sandler lifted their target price on Meta Platforms from $575.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on Meta Platforms from $525.00 to $585.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Morgan Stanley lifted their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $634.10.

Insider Transactions at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated 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 completion of the transaction, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares in the company, valued at $7,744,534.08. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock worth $84,533,106 in the last quarter. Insiders own 13.71% of the company's stock.

Meta Platforms Trading Down 0.5 %

NASDAQ:META opened at $577.16 on Friday. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The firm has a 50-day moving average price of $567.03 and a two-hundred day moving average price of $519.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS 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 analyst estimates of $40.21 billion. On average, equities analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms's payout ratio is 9.42%.

About Meta Platforms

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.