Marion Wealth Management Purchases 178 Shares of Meta Platforms, Inc. (NASDAQ:META)

Marion Wealth Management increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,174 shares of the social networking company’s stock after buying an additional 178 shares during the period. Meta Platforms accounts for approximately 1.2% of Marion Wealth Management’s holdings, making the stock its 24th biggest position. Marion Wealth Management’s holdings in Meta Platforms were worth $4,679,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares 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 stake in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Meta Platforms during the first quarter valued at approximately $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.6 %

META stock opened at $588.27 on Tuesday. The stock has a market cap of $1.49 trillion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The company has a fifty day moving average price of $529.45 and a two-hundred day moving average price of $503.17. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. 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 quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.23 EPS. Equities analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

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

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 8,950 shares of the company’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 transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total value of $8,916,696.74. Following the sale, the chief executive officer now directly owns 151,918 shares in the company, valued at approximately $81,104,462.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 282,621 shares of company stock worth $148,657,449 in the last ninety days. 13.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on META shares. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. UBS Group lifted their price objective on Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer increased their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, TD Securities boosted their price target on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Two 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $601.08.

About Meta Platforms

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.