Mowery & Schoenfeld Wealth Management LLC Buys 224 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mowery & Schoenfeld Wealth Management LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 430.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 276 shares of the social networking company’s stock after buying an additional 224 shares during the quarter. Mowery & Schoenfeld Wealth Management LLC’s holdings in Meta Platforms were worth $158,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. grew its holdings in Meta Platforms by 29.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,880 shares of the social networking company’s stock worth $7,945,000 after purchasing an additional 3,144 shares during the period. Global Assets Advisory LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth approximately $1,610,000. X Square Capital LLC boosted its stake in shares of Meta Platforms by 2.2% during the 3rd quarter. X Square Capital LLC now owns 10,510 shares of the social networking company’s stock worth $6,016,000 after acquiring an additional 224 shares during the period. Cherry Creek Investment Advisors Inc. raised its stake in Meta Platforms by 12.3% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 1,338 shares of the social networking company’s stock valued at $766,000 after acquiring an additional 147 shares during the period. Finally, Romano Brothers AND Company lifted its holdings in Meta Platforms by 11.0% during the 3rd quarter. Romano Brothers AND Company now owns 3,346 shares of the social networking company’s stock valued at $1,915,000 after purchasing an additional 331 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 1.0 %

NASDAQ META opened at $573.25 on Friday. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 29.26, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. 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 business’s fifty day moving average is $551.05 and its 200 day moving average is $510.72.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 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 firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the firm posted $3.23 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of the business’s 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 sale, the chief operating officer now owns 5,147 shares of the company’s stock, valued at $2,684,057.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $521.48, for a total transaction of $214,849.76. Following the transaction, the chief operating officer now directly owns 5,147 shares of the company’s stock, valued at approximately $2,684,057.56. The trade was 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. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,817 shares of company stock worth $132,547,715. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on META shares. Citigroup upped their price objective on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Raymond James raised their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Susquehanna boosted their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $621.63.

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.