SMART Wealth LLC Acquires 480 Shares of Meta Platforms, Inc. (NASDAQ:META)

SMART Wealth LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 53.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,374 shares of the social networking company’s stock after acquiring an additional 480 shares during the quarter. SMART Wealth LLC’s holdings in Meta Platforms were worth $787,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC grew its holdings in shares of Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Meta Platforms during the second quarter worth about $595,152,000. World Investment Advisors LLC lifted its holdings in shares of Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after buying an additional 890,434 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $620.35 on Monday. 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, Inc. has a 1-year low of $328.64 and a 1-year high of $638.40. The firm has a fifty day moving average of $583.97 and a two-hundred day moving average of $538.27. The firm has a market cap of $1.57 trillion, a P/E ratio of 29.22, a P/E/G ratio of 1.39 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total transaction of $486,636.60. Following the sale, the insider now directly owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. This represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 214,002 shares of company stock worth $126,740,653 in the last 90 days. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on META shares. Guggenheim upped their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Roth Mkm boosted their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Stifel Nicolaus lifted their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Bank of America raised their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $635.20.

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.