Mcdaniel Terry & Co. Buys 24 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mcdaniel Terry & Co. raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,811 shares of the social networking company’s stock after purchasing an additional 24 shares during the period. Mcdaniel Terry & Co.’s holdings in Meta Platforms were worth $1,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Gradient Investments LLC boosted its position in shares of Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Baillie Gifford & Co. raised its stake in Meta Platforms by 14.0% in the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after buying an additional 748,076 shares during the last quarter. Stanley Laman Group Ltd. boosted its holdings in Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after acquiring an additional 352 shares in the last quarter. Lincoln National Corp grew its stake in shares of Meta Platforms by 7.8% during the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after acquiring an additional 2,504 shares during the last quarter. Finally, BCGM Wealth Management LLC increased its holdings in shares of Meta Platforms by 5.3% during the first quarter. BCGM Wealth Management LLC now owns 1,311 shares of the social networking company’s stock valued at $637,000 after acquiring an additional 66 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on META. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays boosted their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Truist Financial increased their price objective on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, TD Securities lifted their target price on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two equities research 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $621.63.

Insider Activity

In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $521.48, for a total transaction of $214,849.76. Following the completion of the sale, the chief operating officer now directly owns 5,147 shares in the company, valued at approximately $2,684,057.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of 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 valued at $132,547,715. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 1.0 %

Shares of NASDAQ META opened at $573.25 on Friday. The stock has a market cap of $1.45 trillion, a PE ratio of 29.26, a P/E/G ratio of 1.42 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The company has a 50-day moving average of $551.05 and a 200 day moving average of $510.72.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the business earned $3.23 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 10.21%.

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.