Peddock Capital Advisors LLC Acquires 24 Shares of Meta Platforms, Inc. (NASDAQ:META)

Peddock Capital Advisors LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,634 shares of the social networking company’s stock after acquiring an additional 24 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Meta Platforms were worth $1,508,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Delos Wealth Advisors LLC boosted 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 acquiring an additional 58 shares during the period. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its position in shares of Meta Platforms by 122.2% in the second 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 during the period. Richardson Financial Services Inc. boosted its position in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Meta Platforms during the first quarter valued at approximately $44,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 1.2 %

Meta Platforms stock traded down $7.09 during mid-day trading on Wednesday, reaching $585.80. The stock had a trading volume of 3,935,662 shares, compared to its average volume of 15,407,109. The company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.39 and a beta of 1.22. The company has a 50-day moving average price of $532.05 and a two-hundred day moving average price of $503.76. 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 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 analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.23 EPS. On average, analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

META has been the topic of several research reports. TD Securities lifted their price target on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Jefferies Financial Group lifted their price target on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. KeyCorp lifted their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer lifted their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $605.33.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $583.73, for a total transaction of $241,080.49. Following the transaction, the chief operating officer now owns 11,946 shares in the company, valued at approximately $6,973,238.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $583.73, for a total value of $241,080.49. Following the transaction, the chief operating officer now owns 11,946 shares of the company’s stock, valued at approximately $6,973,238.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 14,874 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $503.38, for a total transaction of $7,487,274.12. Following the completion of the transaction, the chief executive officer now directly owns 135,442 shares in the company, valued at approximately $68,178,793.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,332 shares of company stock worth $139,981,833. Company insiders own 13.71% of the company’s stock.

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.