Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Maxwell Wealth Strategies Inc.

Maxwell Wealth Strategies Inc. increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 21.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,262 shares of the social networking company’s stock after purchasing an additional 1,302 shares during the quarter. Meta Platforms accounts for approximately 1.8% of Maxwell Wealth Strategies Inc.’s portfolio, making the stock its 16th biggest position. Maxwell Wealth Strategies Inc.’s holdings in Meta Platforms were worth $4,157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its holdings in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after acquiring an additional 16,138 shares during the period. Empowered Funds LLC boosted its holdings in Meta Platforms by 22.4% during the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock valued at $32,629,000 after acquiring an additional 12,301 shares during the period. Cypress Asset Management Inc. TX boosted its holdings in Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after acquiring an additional 3,224 shares during the period. Northern Capital Management Inc. boosted its holdings in Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after acquiring an additional 21 shares during the period. Finally, Catalytic Wealth RIA LLC boosted its holdings in Meta Platforms by 24.3% during the 1st quarter. Catalytic Wealth RIA LLC now owns 7,131 shares of the social networking company’s stock valued at $3,463,000 after acquiring an additional 1,396 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

META has been the subject of several recent research reports. Robert W. Baird lifted their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Scotiabank cut their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Finally, Piper Sandler raised their target price on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now directly owns 30,581 shares of the company’s stock, valued at $17,360,833.70. The trade was a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on 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 sold a total of 140,593 shares of company stock valued at $75,253,970 over the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 0.1 %

META opened at $554.40 on Tuesday. The business’s fifty day moving average is $569.10 and its two-hundred day moving average is $521.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.