Unique Wealth LLC Has $477,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Unique Wealth LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 834 shares of the social networking company’s stock after buying an additional 52 shares during the quarter. Unique Wealth LLC’s holdings in Meta Platforms were worth $477,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Delos Wealth Advisors LLC grew its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. increased its position in 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 buying an additional 44 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Meta Platforms in the first quarter valued at about $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial raised their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Guggenheim boosted their price target on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna raised their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their price objective on Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $598.08.

Insider Activity

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total value of $523,587.75. Following the transaction, the insider now directly owns 35,102 shares of the company’s stock, valued at $20,308,262.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred 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. In the last three months, insiders have sold 300,228 shares of company stock valued at $158,005,260. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 1.7 %

Shares of NASDAQ:META opened at $582.77 on Friday. The firm has a market cap of $1.48 trillion, a P/E ratio of 33.47, a P/E/G ratio of 1.39 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $583.36. The business has a fifty day simple moving average of $524.47 and a 200 day simple moving average of $501.92. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.23 earnings per share. Analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current 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 given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

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.