Prospera Private Wealth LLC Purchases 3,626 Shares of Meta Platforms, Inc. (NASDAQ:META)

Prospera Private Wealth LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 252.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,065 shares of the social networking company's stock after purchasing an additional 3,626 shares during the quarter. Prospera Private Wealth LLC's holdings in Meta Platforms were worth $2,900,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in META. Lindenwold Advisors INC lifted its stake in Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after purchasing an additional 17 shares during the last quarter. Central Valley Advisors LLC lifted its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock valued at $3,271,000 after acquiring an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC boosted its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock worth $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC raised its position in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock worth $1,595,000 after purchasing an additional 18 shares during the period. Finally, Kozak & Associates Inc. lifted its holdings in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock valued at $1,099,000 after purchasing an additional 18 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $520.48, for a total transaction of $8,693,056.96. Following the completion of the transaction, the chief executive officer now directly owns 2,657 shares of the company's stock, valued at $1,382,915.36. This trade represents a 86.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,843 shares of company stock worth $92,083,554 in the last 90 days. Corporate insiders own 13.71% of the company's stock.

Meta Platforms Price Performance

NASDAQ:META traded down $3.95 on Friday, reaching $559.14. The stock had a trading volume of 9,164,004 shares, compared to its average volume of 13,967,285. The company has a market capitalization of $1.41 trillion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. The stock has a fifty day moving average price of $572.74 and a 200-day moving average price of $523.96. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms's dividend payout ratio is 9.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JMP Securities boosted their price target on shares of Meta Platforms from $635.00 to $660.00 and gave the company a "market outperform" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Meta Platforms from $640.00 to $660.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. KeyCorp upped their price target on Meta Platforms from $560.00 to $655.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. UBS Group increased their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $634.10.

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.