RIA Advisory Group LLC Invests $763,000 in Meta Platforms, Inc. (NASDAQ:META)

RIA Advisory Group LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,332 shares of the social networking company's stock, valued at approximately $763,000.

A number of other institutional investors also recently added to or reduced their stakes in META. Maxwell Wealth Strategies Inc. lifted its holdings in shares of Meta Platforms by 21.8% in the third quarter. Maxwell Wealth Strategies Inc. now owns 7,262 shares of the social networking company's stock valued at $4,157,000 after buying an additional 1,302 shares during the period. Natixis Advisors LLC lifted its holdings in shares of 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 valued at $955,431,000 after buying an additional 91,673 shares during the period. TSA Wealth Managment LLC lifted its holdings in shares of Meta Platforms by 15.3% in the third quarter. TSA Wealth Managment LLC now owns 702 shares of the social networking company's stock valued at $402,000 after buying an additional 93 shares during the period. Nicollet Investment Management Inc. lifted its holdings in shares of 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 valued at $13,433,000 after buying an additional 254 shares during the period. Finally, Seelaus Asset Management LLC lifted its holdings in shares of 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 valued at $930,000 after buying an additional 524 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Up 0.5 %

Shares of META traded up $2.52 during trading hours on Tuesday, hitting $556.92. 5,425,886 shares of the company were exchanged, compared to its average volume of 15,018,863. The company has a market cap of $1.41 trillion, a PE ratio of 26.09, a PEG ratio of 1.23 and a beta of 1.22. The firm's 50 day moving average is $569.10 and its 200-day moving average is $521.96. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week 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.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 available at this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm's stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Insiders sold a total of 140,593 shares of company stock worth $75,253,970 in the last 90 days. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

META has been the subject of several research analyst reports. Bank of America upped their price objective on Meta Platforms from $630.00 to $660.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Truist Financial upped their target price on Meta Platforms from $570.00 to $650.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Robert W. Baird upped their target price on Meta Platforms from $605.00 to $630.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Finally, Susquehanna upped their target price on Meta Platforms from $600.00 to $675.00 and gave the company a "positive" rating in a report 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $634.10.

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.