Sage Advisors LLC Acquires 65 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sage Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,103 shares of the social networking company’s stock after purchasing an additional 65 shares during the period. Meta Platforms accounts for approximately 0.9% of Sage Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Sage Advisors LLC’s holdings in Meta Platforms were worth $1,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at about $38,000. Ruedi Wealth Management Inc. boosted its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter valued at approximately $46,000. West Financial Advisors LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $49,000. Finally, NewSquare Capital LLC lifted its position in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the sale, the chief technology officer now directly owns 8,565 shares of the company’s stock, valued at $4,943,375.40. This represents a 37.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,958 shares of company stock worth $101,181,747 in the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $561.09 on Wednesday. The business’s fifty day simple moving average is $570.23 and its 200 day simple moving average is $522.73. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The firm has a market capitalization of $1.42 trillion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analysts Forecast Growth

META has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Citigroup lifted their price objective on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price on the stock. TD Cowen lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, JMP Securities boosted their price target on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.10.

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.