Orion Portfolio Solutions LLC Purchases 2,491 Shares of Meta Platforms, Inc. (NASDAQ:META)

Orion Portfolio Solutions LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,574 shares of the social networking company’s stock after purchasing an additional 2,491 shares during the period. Meta Platforms makes up approximately 1.2% of Orion Portfolio Solutions LLC’s holdings, making the stock its 28th largest holding. Orion Portfolio Solutions LLC’s holdings in Meta Platforms were worth $54,138,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lindenwold Advisors INC boosted its holdings in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares during the last quarter. Central Valley Advisors LLC lifted 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 worth $3,271,000 after buying an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC boosted its stake 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 valued at $2,199,000 after buying an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC grew its holdings in Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after buying an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. increased 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 acquiring an additional 18 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 2.4 %

NASDAQ META opened at $623.77 on Friday. Meta Platforms, Inc. has a one year low of $317.77 and a one year high of $629.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. The company’s 50-day simple moving average is $579.64 and its two-hundred day simple moving average is $532.13.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Barclays lifted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. TD Cowen lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Mizuho upped their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $634.71.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of Meta Platforms 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 completion of the transaction, the insider now directly owns 338,662 shares in the company, valued at $188,810,838.24. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 142,160 shares of company stock worth $81,611,223 in the last three months. 13.71% of the stock is owned by insiders.

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.