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Meta Platforms, Inc. $META Shares Newly Bought by St. Louis Financial Planners Asset Management LLC

Meta Platforms logo with Communication Services background
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Key Points

St. Louis Financial Planners Asset Management LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,354 shares of the social networking company's stock, valued at approximately $3,588,000. Meta Platforms accounts for 1.5% of St. Louis Financial Planners Asset Management LLC's portfolio, making the stock its 15th biggest position.

A number of other large investors have also recently bought and sold shares of META. Advantage Trust Co bought a new stake in shares of Meta Platforms in the 2nd quarter worth approximately $28,000. Philadelphia Investment Partners LLC bought a new position in Meta Platforms during the 2nd quarter worth $32,000. Horizons Wealth Management acquired a new stake in Meta Platforms in the third quarter worth $33,000. Axiom Investment Management LLC acquired a new stake in Meta Platforms in the first quarter worth $36,000. Finally, Schuylkill Financial LLC bought a new stake in Meta Platforms in the second quarter valued at $36,000. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 27,474 shares of the company's stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $777.44, for a total value of $21,359,386.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Aaron Anderson sold 3,240 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $618.06, for a total transaction of $2,002,514.40. Following the completion of the transaction, the chief accounting officer owned 6,271 shares of the company's stock, valued at $3,875,854.26. This represents a 34.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 148,331 shares of company stock valued at $101,233,569. 13.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on META shares. Susquehanna reduced their price target on shares of Meta Platforms from $900.00 to $650.00 and set a "positive" rating for the company in a report on Thursday, July 30th. Mizuho set a $750.00 price target on shares of Meta Platforms and gave the stock an "outperform" rating in a research report on Thursday, July 30th. HSBC dropped their price objective on shares of Meta Platforms from $905.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Cantor Fitzgerald cut their price objective on shares of Meta Platforms from $860.00 to $840.00 and set an "overweight" rating on the stock in a research report on Monday, October 12th. Finally, Citizens Jmp boosted their target price on shares of Meta Platforms from $770.00 to $885.00 and gave the company a "market outperform" rating in a research note on Thursday, September 24th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $811.24.

Read Our Latest Analysis on Meta Platforms

Key Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Stock Down 0.5%

META opened at $705.44 on Tuesday. The stock's 50 day moving average price is $657.99 and its 200 day moving average price is $627.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market cap of $1.80 trillion, a P/E ratio of 26.57, a P/E/G ratio of 1.20 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $779.82.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.19 by ($1.01). Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%. The business had revenue of $60.80 billion for the quarter, compared to analyst estimates of $60.22 billion. During the same quarter last year, the firm posted $7.14 EPS. The company's revenue was up 28.0% compared to the same quarter last year. As a group, research analysts predict that Meta Platforms, Inc. will post 28.81 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were issued a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms's dividend payout ratio (DPR) is 7.91%.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company's principal platforms include Facebook, Instagram, Messenger, WhatsApp, and Threads, which enable users to connect, communicate, share content, and discover products and services.

Meta also operates Reality Labs, its division focused on virtual, augmented, and mixed reality technologies. Reality Labs develops products such as Meta Quest virtual reality headsets and related software and experiences, along with research and hardware intended to support immersive computing.

Read More

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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