Axiom Advisory LLC Buys 613 Shares of Meta Platforms, Inc. (NASDAQ:META)

Axiom Advisory LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,080 shares of the social networking company’s stock after acquiring an additional 613 shares during the period. Axiom Advisory LLC’s holdings in Meta Platforms were worth $21,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in META. Central Valley Advisors LLC raised its stake in Meta Platforms by 0.3% during 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 during the last quarter. S.A. Mason LLC raised its position in shares of Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares in the last quarter. Front Row Advisors LLC lifted its stake in shares of Meta Platforms by 5.7% in the 2nd quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock valued at $187,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN boosted its position in shares of Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares in the last quarter. Finally, Northern Capital Management Inc. grew its stake in Meta Platforms by 3.4% during the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $584.78 on Tuesday. The company’s 50 day simple moving average is $529.45 and its two-hundred day simple moving average is $503.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The stock has a market capitalization of $1.48 trillion, a PE ratio of 33.59, a P/E/G ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 earnings per share. Analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the sale, the chief executive officer now owns 151,918 shares in the company, valued at approximately $81,104,462.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the transaction, the chief executive officer now directly owns 151,918 shares in the company, valued at approximately $81,104,462.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $530.81, for a total value of $218,693.72. Following the completion of the sale, the chief operating officer now owns 6,383 shares of the company’s stock, valued at $3,388,160.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 282,621 shares of company stock worth $148,657,449 over the last three months. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on META. Bank of America boosted their price target on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JMP Securities raised their price target on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a report on Thursday, September 26th. Barclays upped their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their target price on Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group upped their price target on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $601.08.

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.