Ritter Daniher Financial Advisory LLC DE Buys 3,033 Shares of Meta Platforms, Inc. $META

Ritter Daniher Financial Advisory LLC DE increased its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 634.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,511 shares of the social networking company’s stock after acquiring an additional 3,033 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in Meta Platforms were worth $2,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Alpha Cubed Investments LLC boosted its holdings in Meta Platforms by 1.3% in the 3rd quarter. Alpha Cubed Investments LLC now owns 122,722 shares of the social networking company’s stock valued at $90,124,000 after purchasing an additional 1,539 shares during the period. Valley Wealth Managers Inc. raised its position in shares of Meta Platforms by 23.3% in the third quarter. Valley Wealth Managers Inc. now owns 4,400 shares of the social networking company’s stock worth $3,231,000 after buying an additional 831 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Meta Platforms by 1.7% during the third quarter. Golden State Wealth Management LLC now owns 8,739 shares of the social networking company’s stock valued at $6,418,000 after buying an additional 149 shares during the period. Foundations Investment Advisors LLC grew its position in Meta Platforms by 1.8% during the third quarter. Foundations Investment Advisors LLC now owns 63,423 shares of the social networking company’s stock worth $46,577,000 after buying an additional 1,107 shares in the last quarter. Finally, Cloud Capital Management LLC increased its stake in Meta Platforms by 14.9% in the 3rd quarter. Cloud Capital Management LLC now owns 601 shares of the social networking company’s stock worth $441,000 after acquiring an additional 78 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 6,875 shares of Meta Platforms stock in a transaction on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total value of $4,190,037.50. Following the transaction, the chief financial officer directly owned 88,370 shares of the company’s stock, valued at $53,857,980.20. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Aaron Anderson sold 726 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total transaction of $429,501.60. Following the sale, the chief accounting officer directly owned 6,035 shares of the company’s stock, valued at $3,570,306. The trade was a 10.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 39,594 shares of company stock valued at $24,325,407. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Down 1.3%

Shares of NASDAQ:META opened at $661.46 on Friday. The stock has a market capitalization of $1.67 trillion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.28. The stock’s 50-day moving average price is $656.76 and its 200-day moving average price is $695.12. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The company had revenue of $59.89 billion during the quarter, compared to analyst estimates of $58.33 billion. During the same quarter in the previous year, the company posted $8.02 EPS. Meta Platforms’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were paid a dividend of $0.525 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, December 15th. Meta Platforms’s dividend payout ratio is 8.94%.

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Wall Street Analyst Weigh In

META has been the subject of a number of research analyst reports. KeyCorp dropped their price target on Meta Platforms from $875.00 to $835.00 and set an “overweight” rating for the company in a research report on Monday, January 26th. Wolfe Research reissued an “outperform” rating and issued a $850.00 price target (up previously from $800.00) on shares of Meta Platforms in a research note on Thursday, January 29th. Bank of America increased their price target on shares of Meta Platforms from $810.00 to $885.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Evercore upped their target price on shares of Meta Platforms from $875.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Barclays reissued an “overweight” rating and issued a $800.00 target price (up previously from $770.00) on shares of Meta Platforms in a research note on Thursday, January 29th. Four investment analysts have rated the stock with a Strong Buy rating, forty have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $847.40.

Get Our Latest Report on META

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.

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

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