NWF Advisory Services Inc. Purchases 1,281 Shares of Meta Platforms, Inc. $META

NWF Advisory Services Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 30.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,422 shares of the social networking company’s stock after buying an additional 1,281 shares during the quarter. NWF Advisory Services Inc.’s holdings in Meta Platforms were worth $4,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in META. Bare Financial Services Inc purchased a new stake in Meta Platforms during the second quarter valued at about $30,000. Evergreen Private Wealth LLC raised its position in shares of Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 38 shares during the period. Briaud Financial Planning Inc purchased a new stake in shares of Meta Platforms during the 2nd quarter valued at approximately $42,000. Knuff & Co LLC bought a new position in Meta Platforms in the 2nd quarter worth approximately $44,000. Finally, WFA Asset Management Corp boosted its holdings in Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, CAO Aaron Anderson sold 726 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total transaction of $429,501.60. Following the transaction, the chief accounting officer directly owned 6,035 shares in the company, valued at approximately $3,570,306. This represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert M. Kimmitt sold 600 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the transaction, the director directly owned 7,347 shares in the company, valued at approximately $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 40,458 shares of company stock valued at $25,436,200 in the last three months. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Up 0.5%

Shares of NASDAQ META opened at $647.51 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $664.55 and a 200-day moving average of $707.70. The firm has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.35 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business had revenue of $51.24 billion during the quarter, compared to analyst estimates of $49.34 billion. During the same period in the previous year, the business posted $6.03 earnings per share. Meta Platforms’s revenue for the quarter was up 26.2% on a year-over-year basis. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s payout ratio is currently 9.28%.

Analyst Ratings Changes

META has been the topic of a number of analyst reports. Mizuho lowered their target price on shares of Meta Platforms from $925.00 to $815.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. JPMorgan Chase & Co. decreased their price objective on Meta Platforms from $875.00 to $800.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Wedbush restated an “outperform” rating and issued a $920.00 target price on shares of Meta Platforms in a research note on Thursday, October 30th. UBS Group lifted their target price on Meta Platforms from $900.00 to $915.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Piper Sandler lowered their price target on shares of Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $819.46.

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.