Savvy Advisors Inc. Has $4.15 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Savvy Advisors Inc. boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 68.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,245 shares of the social networking company’s stock after acquiring an additional 2,939 shares during the period. Meta Platforms makes up approximately 0.8% of Savvy Advisors Inc.’s investment portfolio, making the stock its 22nd largest holding. Savvy Advisors Inc.’s holdings in Meta Platforms were worth $4,148,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $46,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Meta Platforms in the first quarter worth $47,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction that occurred on 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 owns 518,424 shares in the company, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold a total of 158,200 shares of company stock valued at $84,533,106 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. Scotiabank lowered their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Piper Sandler upped their target price on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Roth Mkm raised their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Down 4.0 %

Shares of META opened at $554.08 on Friday. The firm has a 50 day simple moving average of $568.11 and a two-hundred day simple moving average of $519.97. 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 one year low of $313.66 and a one year high of $602.95. The company has a market cap of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.28 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Meta Platforms 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.