RPg Family Wealth Advisory LLC Purchases 390 Shares of Meta Platforms, Inc. (NASDAQ:META)

RPg Family Wealth Advisory LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,909 shares of the social networking company’s stock after buying an additional 390 shares during the period. Meta Platforms makes up approximately 2.8% of RPg Family Wealth Advisory LLC’s portfolio, making the stock its 5th largest position. RPg Family Wealth Advisory LLC’s holdings in Meta Platforms were worth $9,679,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in META. Lindenwold Advisors INC grew its stake in Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after acquiring an additional 17 shares during the period. Central Valley Advisors LLC grew its position in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the period. Cherrydale Wealth Management LLC lifted its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its stake in Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. boosted its stake in Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.8 %

META stock opened at $569.20 on Friday. The firm’s 50-day moving average is $574.75 and its two-hundred day moving average is $526.33. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. 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 (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for 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%. On average, analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid 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 dividend payout ratio is currently 9.42%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. DA Davidson assumed coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Two investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $634.71.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 37,790 shares in the company, valued at $21,362,687. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,239 shares of company stock valued at $59,681,541 over the last three months. Company insiders own 13.71% of the company’s stock.

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.