Cherrydale Wealth Management LLC Purchases 18 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cherrydale Wealth Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,841 shares of the social networking company’s stock after purchasing an additional 18 shares during the quarter. Meta Platforms comprises approximately 0.9% of Cherrydale Wealth Management LLC’s portfolio, making the stock its 15th biggest holding. Cherrydale Wealth Management LLC’s holdings in Meta Platforms were worth $2,199,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. Capital World Investors increased its holdings in shares of Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital Research Global Investors boosted its stake in Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the period. Jennison Associates LLC boosted its stake in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares during the period. Finally, GQG Partners LLC grew its position in Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after buying an additional 342,742 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $5.29 during midday trading on Monday, hitting $595.24. The stock had a trading volume of 1,066,974 shares, compared to its average volume of 15,289,771. The company has a market capitalization of $1.51 trillion, a PE ratio of 33.99, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The stock has a 50 day moving average price of $538.12 and a two-hundred day moving average price of $505.67. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

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, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the firm earned $3.23 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. As a group, equities analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,712 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the transaction, the chief executive officer now owns 129,888 shares of the company’s stock, valued at approximately $65,238,845.76. 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. In other news, CEO Mark Zuckerberg sold 1,712 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the transaction, the chief executive officer now owns 129,888 shares of the company’s stock, valued at $65,238,845.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were 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 owns 11,990 shares in the company, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,443 shares of company stock worth $133,105,284 in the last ninety days. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Roth Mkm raised their price objective on shares of Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group upped their target price on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America raised their price target on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Wolfe Research assumed coverage on Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $611.49.

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.