Maxwell Wealth Strategies Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 21.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,262 shares of the social networking company's stock after acquiring an additional 1,302 shares during the period. Meta Platforms makes up approximately 1.8% of Maxwell Wealth Strategies Inc.'s portfolio, making the stock its 16th largest position. Maxwell Wealth Strategies Inc.'s holdings in Meta Platforms were worth $4,157,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors LLC boosted its holdings in Meta Platforms by 5.8% in the third quarter. Natixis Advisors LLC now owns 1,669,051 shares of the social networking company's stock worth $955,431,000 after purchasing an additional 91,673 shares during the last quarter. TSA Wealth Managment LLC boosted its holdings in Meta Platforms by 15.3% in the third quarter. TSA Wealth Managment LLC now owns 702 shares of the social networking company's stock worth $402,000 after purchasing an additional 93 shares during the last quarter. Nicollet Investment Management Inc. boosted its holdings in Meta Platforms by 1.1% in the third quarter. Nicollet Investment Management Inc. now owns 23,467 shares of the social networking company's stock worth $13,433,000 after purchasing an additional 254 shares during the last quarter. Seelaus Asset Management LLC boosted its holdings in Meta Platforms by 47.6% in the third quarter. Seelaus Asset Management LLC now owns 1,625 shares of the social networking company's stock worth $930,000 after purchasing an additional 524 shares during the last quarter. Finally, Coastline Trust Co boosted its stake in shares of Meta Platforms by 10.2% during the 3rd quarter. Coastline Trust Co now owns 37,896 shares of the social networking company's stock worth $21,693,000 after acquiring an additional 3,501 shares during the last quarter. Institutional investors own 79.91% of the company's stock.
Meta Platforms Trading Up 0.5 %
META stock traded up $2.52 during midday trading on Tuesday, reaching $556.92. The company's stock had a trading volume of 5,425,886 shares, compared to its average volume of 15,018,863. The firm has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. 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 stock has a fifty day simple moving average of $569.10 and a two-hundred day simple moving average of $521.96.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities research analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms's payout ratio is currently 9.42%.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of Meta Platforms to a "hold" rating in a research note on Thursday, October 24th. Benchmark reiterated a "hold" rating on shares of Meta Platforms in a research note on Thursday, July 25th. Oppenheimer lifted their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Bank of America lifted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Two 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $634.10.
Read Our Latest Research Report on Meta Platforms
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total value of $469,740.25. Following the completion of the sale, the insider now directly owns 39,627 shares in the company, valued at approximately $20,568,394.35. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $533.24, for a total value of $8,906,174.48. Following the completion of the sale, the chief executive officer now owns 28,838 shares of the company's stock, valued at $15,377,575.12. This represents a 36.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,593 shares of company stock valued at $75,253,970 in the last ninety days. Corporate insiders own 13.71% of the company's stock.
About Meta Platforms
(
Free Report)
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.
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