Mach 1 Financial Group LLC Has $1.15 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Mach 1 Financial Group LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,016 shares of the social networking company’s stock after purchasing an additional 132 shares during the period. Meta Platforms comprises approximately 0.7% of Mach 1 Financial Group LLC’s investment portfolio, making the stock its 23rd biggest holding. Mach 1 Financial Group LLC’s holdings in Meta Platforms were worth $1,154,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC increased its position 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 worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. increased its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms during the third quarter worth $46,000. Finally, J.Safra Asset Management Corp acquired a new stake in Meta Platforms in the first quarter valued at $47,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.3 %

Shares of META stock opened at $584.82 on Wednesday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two 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. The stock has a 50 day simple moving average of $563.02 and a two-hundred day simple moving average of $517.29. The company has a market cap of $1.48 trillion, a P/E ratio of 27.55, a PEG ratio of 1.30 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate 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%. Research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Oppenheimer lifted their price target on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. KeyCorp boosted their target price on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Loop Capital raised their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total value of $481,650.05. Following the transaction, the insider now owns 41,437 shares in the company, valued at approximately $22,053,185.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 194,714 shares of company stock valued at $103,811,069 in the last three months. Corporate insiders own 13.71% of the company’s stock.

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.