Firethorn Wealth Partners LLC Purchases 19 Shares of Meta Platforms, Inc. (NASDAQ:META)

Firethorn Wealth Partners LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,075 shares of the social networking company’s stock after acquiring an additional 19 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in Meta Platforms were worth $615,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Central Valley Advisors LLC lifted its position in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the period. Cherrydale Wealth Management LLC raised its stake in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the last quarter. S.A. Mason LLC lifted its holdings in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares during the period. Front Row Advisors LLC boosted its stake in Meta Platforms by 5.7% in the second quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock valued at $187,000 after acquiring an additional 20 shares during the last quarter. Finally, Merrion Investment Management Co LLC grew its holdings in Meta Platforms by 1.8% during the 3rd quarter. Merrion Investment Management Co LLC now owns 1,145 shares of the social networking company’s stock worth $655,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $576.79 on Thursday. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The stock has a 50 day moving average of $544.01 and a 200-day moving average of $507.60. 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 market capitalization of $1.46 trillion, a P/E ratio of 33.13, a P/E/G ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.23 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,911 shares of company stock worth $131,887,905 over the last quarter. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Citigroup increased their price target on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Guggenheim upped their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, TD Securities boosted their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $613.71.

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.