Legacy Capital Wealth Partners LLC Purchases 3,027 Shares of Meta Platforms, Inc. (NASDAQ:META)

Legacy Capital Wealth Partners LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 89.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,410 shares of the social networking company’s stock after acquiring an additional 3,027 shares during the period. Meta Platforms accounts for about 0.6% of Legacy Capital Wealth Partners LLC’s investment portfolio, making the stock its 24th largest position. Legacy Capital Wealth Partners LLC’s holdings in Meta Platforms were worth $3,669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% in 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 in the last quarter. Halpern Financial Inc. purchased a new position in shares of Meta Platforms in the third quarter worth $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the third quarter worth $49,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $529.09, for a total value of $8,836,861.18. Following the transaction, the chief executive officer now owns 55,019 shares in the company, valued at approximately $29,110,002.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $529.09, for a total transaction of $8,836,861.18. Following the sale, the chief executive officer now owns 55,019 shares of the company’s stock, valued at $29,110,002.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the sale, the insider now directly owns 41,437 shares in the company, valued at $22,053,185.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 175,807 shares of company stock valued at $93,851,617 in the last three months. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

META has been the topic of a number of recent research reports. UBS Group upped their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Susquehanna upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. Pivotal Research upped their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Tigress Financial upped their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Performance

META stock opened at $580.00 on Thursday. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.29 and a beta of 1.22. The firm has a 50-day simple moving average of $564.48 and a two-hundred day simple moving average of $518.29. Meta Platforms, Inc. has a one year low of $313.66 and a one year 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) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The business 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%. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

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.