756 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS purchased a new position in Meta Platforms, Inc. (NASDAQ:META) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 756 shares of the social networking company’s stock, valued at approximately $433,000.

A number of other hedge funds have also bought and sold shares of META. Lindenwold Advisors INC boosted its position 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 worth $3,388,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC lifted its stake in Meta Platforms by 0.3% in the 3rd 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 last quarter. Cherrydale Wealth Management LLC lifted its stake in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after purchasing an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC lifted 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 valued at $1,595,000 after purchasing an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. lifted 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 valued at $1,099,000 after purchasing an additional 18 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Scotiabank dropped their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Guggenheim raised their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. KeyCorp raised their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Citigroup raised their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $635.20.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the sale, the insider now owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The trade was a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction 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 approximately $311,054,400. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 214,002 shares of company stock valued at $126,740,653. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 1.9 %

Shares of META traded down $11.99 during trading hours on Friday, reaching $618.80. 2,405,000 shares of the stock traded hands, compared to its average volume of 14,715,318. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $583.48 and a 200 day simple moving average of $536.44. Meta Platforms, Inc. has a 52 week low of $328.64 and a 52 week high of $638.40. The company has a market cap of $1.56 trillion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.39 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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 business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

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