Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,908 shares of the social networking company's stock after acquiring an additional 928 shares during the period. Meta Platforms makes up about 1.2% of Independent Solutions Wealth Management LLC's investment portfolio, making the stock its 22nd biggest position. Independent Solutions Wealth Management LLC's holdings in Meta Platforms were worth $5,099,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock valued at $2,365,820,000 after purchasing an additional 4,126,190 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in Meta Platforms in the 2nd quarter valued at about $595,152,000. World Investment Advisors LLC boosted its stake in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock worth $520,662,000 after purchasing an additional 890,434 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock worth $27,470,870,000 after buying an additional 698,884 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 0.3 %

Shares of META traded down $1.62 during trading on Thursday, reaching $595.57. The company's stock had a trading volume of 14,144,983 shares, compared to its average volume of 14,726,542. Meta Platforms, Inc. has a twelve month low of $340.01 and a twelve month high of $638.40. 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 company has a market cap of $1.50 trillion, a price-to-earnings ratio of 28.05, a P/E/G ratio of 1.39 and a beta of 1.20. The company has a fifty day moving average of $585.66 and a two-hundred day moving average of $541.23.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms's dividend payout ratio is currently 9.42%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Piper Sandler increased their price target on Meta Platforms from $650.00 to $670.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 10th. Robert W. Baird lifted their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, BMO Capital Markets raised their price target on Meta Platforms from $525.00 to $530.00 and gave the stock a "market perform" rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $638.00.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. The trade was a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 413 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $560.00, for a total transaction of $231,280.00. Following the completion of the transaction, the chief operating officer now owns 12,772 shares in the company, valued at approximately $7,152,320. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,292 shares of company stock worth $174,358,984 over the last quarter. 13.71% of the stock is owned by corporate 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.