Traveka Wealth LLC Grows Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Traveka Wealth LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,156 shares of the social networking company’s stock after buying an additional 281 shares during the period. Meta Platforms comprises about 1.2% of Traveka Wealth LLC’s holdings, making the stock its 24th largest position. Traveka Wealth LLC’s holdings in Meta Platforms were worth $2,379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Delos Wealth Advisors LLC increased its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its stake in shares of 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 acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Meta Platforms by 95.6% during 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 in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Meta Platforms during the 1st quarter worth approximately $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on META shares. TD Cowen boosted their price target on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Tigress Financial upped their target price on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Oppenheimer upped their target price on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two 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 given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $601.08.

Meta Platforms Stock Performance

Meta Platforms stock traded up $3.50 during mid-day trading on Tuesday, reaching $588.28. 2,964,211 shares of the company were exchanged, compared to its average volume of 15,440,135. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm’s 50-day simple moving average is $529.45 and its two-hundred day simple moving average is $503.17. The firm has a market cap of $1.49 trillion, a PE ratio of 33.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the business posted $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. Equities 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. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total transaction of $523,587.75. Following the completion of the sale, the insider now directly owns 35,102 shares in the company, valued at $20,308,262.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms 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 value of $8,916,696.74. Following the completion of the sale, the chief executive officer now directly owns 151,918 shares in the company, valued at $81,104,462.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated 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 owns 35,102 shares of the company’s stock, valued at approximately $20,308,262.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 282,621 shares of company stock valued at $148,657,449. 13.71% of the stock is currently owned by insiders.

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.