Daymark Wealth Partners LLC Has $7.32 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Daymark Wealth Partners LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,788 shares of the social networking company’s stock after buying an additional 1,038 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Meta Platforms were worth $7,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of META. Saxon Interests Inc. boosted its position in Meta Platforms by 5.0% in the third quarter. Saxon Interests Inc. now owns 5,873 shares of the social networking company’s stock valued at $3,362,000 after buying an additional 282 shares in the last quarter. Peddock Capital Advisors LLC increased its holdings in shares of Meta Platforms by 0.9% during the third quarter. Peddock Capital Advisors LLC now owns 2,634 shares of the social networking company’s stock worth $1,508,000 after buying an additional 24 shares in the last quarter. Eagle Wealth Strategies LLC lifted its stake in shares of Meta Platforms by 39.7% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 1,006 shares of the social networking company’s stock valued at $576,000 after acquiring an additional 286 shares during the last quarter. Barlow Wealth Partners Inc. boosted its holdings in shares of Meta Platforms by 14.6% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 1,254 shares of the social networking company’s stock valued at $733,000 after acquiring an additional 160 shares in the last quarter. Finally, Perkins Coie Trust Co grew its position in Meta Platforms by 7.7% during the 3rd quarter. Perkins Coie Trust Co now owns 6,866 shares of the social networking company’s stock worth $3,930,000 after acquiring an additional 491 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META traded down $4.44 during trading on Wednesday, reaching $588.45. The company’s stock had a trading volume of 4,620,834 shares, compared to its average volume of 15,409,753. The firm has a fifty day moving average of $532.05 and a 200 day moving average of $503.76. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The stock has a market capitalization of $1.49 trillion, a PE ratio of 33.65, a P/E/G ratio of 1.39 and a beta of 1.22. 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 (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the firm posted $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 21.36 EPS 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 given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $501.42, for a total value of $453,785.10. Following the transaction, the insider now owns 36,035 shares in the company, valued at approximately $18,068,669.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 266,332 shares of company stock worth $139,981,833 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on META. Susquehanna boosted their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $660.00 target price on shares of Meta Platforms in a research report on Monday. Bank of America upped their price target on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, JMP Securities raised their price objective on Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research note on Thursday, September 26th. Two research 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 company. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $605.33.

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.