Stratos Wealth Advisors LLC Purchases 377 Shares of Meta Platforms, Inc. (NASDAQ:META)

Stratos Wealth Advisors LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,368 shares of the social networking company’s stock after purchasing an additional 377 shares during the period. Meta Platforms accounts for 1.1% of Stratos Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. Stratos Wealth Advisors LLC’s holdings in Meta Platforms were worth $23,681,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% in the first 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 acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its position in shares of Meta Platforms by 122.2% in the 2nd 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 during the last quarter. Richardson Financial Services Inc. grew its stake in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms during the first quarter worth $44,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their target price on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Robert W. Baird increased their target price on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Pivotal Research began coverage on Meta Platforms in a research note on Tuesday, October 1st. They set a “buy” rating and a $780.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $617.37.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total transaction of $190,756.00. Following the completion of the sale, the chief operating officer now owns 5,559 shares of the company’s stock, valued at approximately $2,573,817. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 250,816 shares of company stock valued at $132,421,828. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $576.47 on Friday. The firm has a market cap of $1.46 trillion, a P/E ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The business’s 50 day moving average is $546.53 and its 200-day moving average is $508.76. 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 1-year low of $279.40 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.23 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current 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 given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is presently 11.49%.

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.