National Wealth Management Group LLC Has $3.19 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

National Wealth Management Group LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,568 shares of the social networking company’s stock after purchasing an additional 70 shares during the quarter. Meta Platforms comprises about 2.2% of National Wealth Management Group LLC’s portfolio, making the stock its 12th biggest holding. National Wealth Management Group LLC’s holdings in Meta Platforms were worth $3,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC increased its position in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after buying an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares during the period. International Assets Investment Management LLC grew its stake in Meta Platforms by 57,001.5% in the 3rd 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 buying an additional 9,500,444 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Meta Platforms by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after acquiring an additional 208,677 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Meta Platforms by 4.6% during the third quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock worth $3,758,146,000 after acquiring an additional 289,207 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.8 %

NASDAQ META opened at $569.20 on Friday. The business has a fifty day simple moving average of $574.75 and a 200 day simple moving average of $526.33. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a PEG ratio of 1.25 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is currently 9.42%.

Insider Buying and Selling

In other news, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $188,810,838.24. This represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the sale, the insider now owns 37,790 shares in the company, valued at $21,362,687. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,239 shares of company stock worth $59,681,541. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Monness Crespi & Hardt increased their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Loop Capital lifted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Piper Sandler increased 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. KeyCorp boosted their price target on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, TD Cowen increased their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

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.