Amplius Wealth Advisors LLC Has $1.53 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Amplius Wealth Advisors LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,679 shares of the social networking company’s stock after buying an additional 35 shares during the quarter. Amplius Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in META. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. grew its position in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Meta Platforms in the 1st quarter valued at approximately $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

NASDAQ:META opened at $576.79 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a 50-day moving average of $544.01 and a 200-day moving average of $507.60. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.13, a PEG ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.23 earnings per share. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total transaction of $443,269.00. Following the completion of the sale, the insider now owns 35,130 shares of the company’s stock, valued at approximately $17,206,674. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,911 shares of company stock worth $131,887,905 over the last three months. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on META shares. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Rosenblatt Securities upped their target price on Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. JMP Securities lifted their price target on Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a report on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a report on Wednesday. Finally, Evercore ISI lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $613.71.

About Meta Platforms

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.