DeDora Capital Inc. Acquires 582 Shares of Meta Platforms, Inc. (NASDAQ:META)

DeDora Capital Inc. grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,827 shares of the social networking company’s stock after purchasing an additional 582 shares during the quarter. Meta Platforms makes up 0.9% of DeDora Capital Inc.’s portfolio, making the stock its 27th biggest position. DeDora Capital Inc.’s holdings in Meta Platforms were worth $3,336,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of META. Delos Wealth Advisors LLC boosted its position in 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 in the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the completion of the transaction, the chief operating officer now directly owns 11,120 shares in the company, valued at approximately $6,456,828. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the transaction, the chief operating officer now owns 11,120 shares of the company’s stock, valued at $6,456,828. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,912 shares of company stock worth $132,027,612 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

META has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Pivotal Research assumed coverage on Meta Platforms in a research report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. Susquehanna raised their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Finally, Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $619.20.

Meta Platforms Stock Down 3.1 %

NASDAQ META opened at $563.69 on Thursday. The business’s fifty day simple moving average is $548.79 and its 200-day simple moving average is $509.61. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.43 trillion, a PE ratio of 32.38, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.23 EPS. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Meta Platforms Company 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.