Detalus Advisors LLC Acquires 62 Shares of Meta Platforms, Inc. (NASDAQ:META)

Detalus Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 10.8% in the 3rd quarter, Holdings Channel reports. The fund owned 636 shares of the social networking company’s stock after purchasing an additional 62 shares during the quarter. Detalus Advisors LLC’s holdings in Meta Platforms were worth $364,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of META. ERn Financial LLC grew its holdings in shares of Meta Platforms by 59.0% during the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after buying an additional 613 shares in the last quarter. Shulman DeMeo Asset Management LLC grew its holdings in shares of Meta Platforms by 4.6% during the first quarter. Shulman DeMeo Asset Management LLC now owns 5,233 shares of the social networking company’s stock worth $2,541,000 after buying an additional 229 shares in the last quarter. Hurlow Wealth Management Group Inc. bought a new position in shares of Meta Platforms during the first quarter worth about $243,000. Thrive Wealth Management LLC grew its holdings in shares of Meta Platforms by 6.6% during the first quarter. Thrive Wealth Management LLC now owns 2,829 shares of the social networking company’s stock worth $1,374,000 after buying an additional 176 shares in the last quarter. Finally, Lincoln Capital Corp grew its holdings in shares of Meta Platforms by 9.5% during the first quarter. Lincoln Capital Corp now owns 1,205 shares of the social networking company’s stock worth $585,000 after buying an additional 105 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler raised their price target on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Tigress Financial raised their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. UBS Group raised their price target on Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Morgan Stanley raised their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Wedbush restated an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $621.63.

Insider Activity

In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $521.48, for a total value of $214,849.76. Following the transaction, the chief operating officer now owns 5,147 shares in the company, valued at approximately $2,684,057.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $521.48, for a total value of $214,849.76. Following the sale, the chief operating officer now owns 5,147 shares in the company, valued at $2,684,057.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,817 shares of company stock worth $132,547,715. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 1.0 %

Shares of META opened at $573.25 on Friday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The business’s fifty day moving average is $551.05 and its 200-day moving average is $510.76. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 32.93, a PEG ratio of 1.45 and a beta of 1.22.

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

Meta Platforms Announces Dividend

The firm also recently declared 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 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 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.