Catalytic Wealth RIA LLC Acquires 32 Shares of Meta Platforms, Inc. (NASDAQ:META)

Catalytic Wealth RIA LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 6,845 shares of the social networking company’s stock after purchasing an additional 32 shares during the quarter. Meta Platforms comprises 0.7% of Catalytic Wealth RIA LLC’s holdings, making the stock its 28th largest position. Catalytic Wealth RIA LLC’s holdings in Meta Platforms were worth $3,918,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in META. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. raised its stake in Meta Platforms by 122.2% during the 2nd 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 period. Halpern Financial Inc. bought a new position in Meta Platforms in the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.5 %

Shares of NASDAQ META opened at $577.16 on Friday. 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 $1.46 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.29 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The business has a 50-day simple moving average of $565.83 and a two-hundred day simple moving average of $518.72.

Meta Platforms (NASDAQ:META) last released 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 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 anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 9.42%.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,200 shares of company stock worth $84,533,106. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Robert W. Baird increased their target price on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Piper Sandler lifted their price objective on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Stifel Nicolaus lifted their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, TD Cowen boosted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Two investment 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. Based on data from MarketBeat.com, the stock presently has an average 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.