ORG Wealth Partners LLC Buys New Position in Meta Platforms, Inc. (NASDAQ:META)

ORG Wealth Partners LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 447 shares of the social networking company’s stock, valued at approximately $256,000.

Several other hedge funds have also made changes to their positions in META. Scarborough Advisors LLC purchased a new position in Meta Platforms in the fourth quarter valued at $146,000. CCM Investment Advisers LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth about $16,131,000. Twin Focus Capital Partners LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $286,000. Slagle Financial LLC raised its holdings in Meta Platforms by 96.5% in the fourth quarter. Slagle Financial LLC now owns 2,008 shares of the social networking company’s stock valued at $711,000 after acquiring an additional 986 shares in the last quarter. Finally, True Vision MN LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $496,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $591.74 on Monday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The stock has a market cap of $1.50 trillion, a P/E ratio of 33.99, a PEG ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $538.12 and a two-hundred day moving average of $505.67.

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 the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during 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 company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.23 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total value of $533,850.45. Following the completion of the transaction, the insider now directly owns 34,197 shares in the company, valued at approximately $20,172,468.33. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold a total of 252,443 shares of company stock valued at $133,105,284 over the last quarter. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Pivotal Research initiated coverage on shares of Meta Platforms in a report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 price objective on the stock. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $660.00 price objective on shares of Meta Platforms in a report on Monday, October 7th. Citigroup boosted their target price on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, JMP Securities increased their price target on shares of 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, three have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $611.49.

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.