Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 867 shares of the social networking company’s stock after purchasing an additional 83 shares during the period. Greenup Street Wealth Management LLC’s holdings in Meta Platforms were worth $496,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of META. Delos Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new position in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Meta Platforms in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Loop Capital boosted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Wolfe Research started coverage on Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Robert W. Baird boosted their price objective on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Roth Mkm raised their target price on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $617.37.

Meta Platforms Stock Performance

NASDAQ:META opened at $576.93 on Friday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The stock has a market cap of $1.46 trillion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The firm’s fifty day simple moving average is $545.36 and its 200-day simple moving average is $508.09.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.23 EPS. Analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the completion of the transaction, the insider now owns 33,292 shares in the company, valued at approximately $19,641,281.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,816 shares of company stock valued at $132,421,828. Insiders own 13.71% of the company’s stock.

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.