Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 125.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,650 shares of the social networking company’s stock after buying an additional 7,602 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Meta Platforms were worth $7,814,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Lindenwold Advisors INC grew its stake in shares of Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after buying an additional 17 shares in the last quarter. Central Valley Advisors LLC grew its stake 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 in the last quarter. Cherrydale Wealth Management LLC grew its stake in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after purchasing an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC grew its stake in Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. grew its stake in Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 152,141 shares of company stock worth $83,390,497 in the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Down 0.7 %

META opened at $559.14 on Monday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. 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 stock’s fifty day moving average is $572.74 and its 200-day moving average is $524.71. The company has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a P/E/G ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) 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 analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Loop Capital raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. DA Davidson started coverage on Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Pivotal Research lifted their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, TD Cowen lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

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.