Beacon Investment Advisory Services Inc. Has $1.56 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Beacon Investment Advisory Services Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,723 shares of the social networking company’s stock after purchasing an additional 365 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Meta Platforms were worth $1,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of META. International Assets Investment Management LLC grew its holdings in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the period. Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms during the 2nd quarter worth approximately $595,152,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Meta Platforms by 926.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after buying an additional 661,923 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth approximately $285,690,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of several research analyst reports. Mizuho lifted their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Roth Mkm lifted their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Susquehanna lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $634.71.

Meta Platforms Trading Up 3.2 %

Shares of META opened at $592.83 on Tuesday. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The business’s fifty day moving average is $575.21 and its 200-day moving average is $528.08. 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 firm has a market cap of $1.50 trillion, a price-to-earnings ratio of 27.92, a PEG ratio of 1.27 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,334 shares of company stock worth $59,210,941 in the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.