McGlone Suttner Wealth Management Inc. Buys 797 Shares of Meta Platforms, Inc. $META

McGlone Suttner Wealth Management Inc. lifted its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 19.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,969 shares of the social networking company’s stock after buying an additional 797 shares during the quarter. Meta Platforms makes up approximately 0.5% of McGlone Suttner Wealth Management Inc.’s portfolio, making the stock its 22nd biggest holding. McGlone Suttner Wealth Management Inc.’s holdings in Meta Platforms were worth $3,649,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of META. Goldstone Financial Group LLC lifted its stake in Meta Platforms by 44.4% during the 3rd quarter. Goldstone Financial Group LLC now owns 3,752 shares of the social networking company’s stock valued at $2,756,000 after acquiring an additional 1,153 shares during the period. Spirepoint Private Client LLC raised its holdings in shares of Meta Platforms by 2.7% during the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock valued at $3,011,000 after purchasing an additional 109 shares during the last quarter. Diversify Advisory Services LLC lifted its position in Meta Platforms by 10.4% during the second quarter. Diversify Advisory Services LLC now owns 55,431 shares of the social networking company’s stock valued at $43,790,000 after purchasing an additional 5,224 shares during the period. CW Advisors LLC boosted its holdings in Meta Platforms by 27.8% in the second quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock worth $130,467,000 after purchasing an additional 38,432 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Meta Platforms by 11.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock worth $155,387,000 after purchasing an additional 20,912 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on META. The Goldman Sachs Group restated a “buy” rating on shares of Meta Platforms in a research note on Tuesday, October 14th. Mizuho lowered their target price on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Robert W. Baird cut their price target on Meta Platforms from $820.00 to $815.00 and set an “outperform” rating for the company in a research note on Tuesday, December 23rd. Royal Bank Of Canada reduced their price target on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Finally, UBS Group raised their price objective on shares of Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $822.22.

Get Our Latest Stock Analysis on META

Meta Platforms Trading Down 1.5%

Shares of NASDAQ:META opened at $650.41 on Monday. The stock has a 50 day moving average of $647.29 and a 200 day moving average of $705.14. The company has a market cap of $1.64 trillion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. During the same quarter last year, the business earned $6.03 EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s payout ratio is 9.28%.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 6,875 shares of the company’s stock in a transaction dated Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $4,190,037.50. Following the completion of the transaction, the chief financial officer owned 88,370 shares of the company’s stock, valued at $53,857,980.20. This represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the sale, the director owned 7,347 shares of the company’s stock, valued at $4,476,894.45. This represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,557 shares of company stock worth $25,905,353 in the last three months. Corporate insiders own 13.61% of the company’s stock.

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About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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

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