Roffman Miller Associates Inc. PA Raises Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Roffman Miller Associates Inc. PA boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 25.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,960 shares of the social networking company’s stock after buying an additional 1,415 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Meta Platforms were worth $3,984,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the 3rd quarter worth about $36,000. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. raised its position in 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 buying an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 2.4 %

Shares of META opened at $623.77 on Monday. The stock has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $317.77 and a 1 year high of $629.79. The business’s 50 day simple moving average is $579.64 and its 200-day simple moving average is $533.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms’s payout ratio is presently 9.42%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares in the company, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,160 shares of company stock worth $81,611,223. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on META shares. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Robert W. Baird upped their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Jefferies Financial Group upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $634.71.

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.