Strait & Sound Wealth Management LLC Buys 278 Shares of Meta Platforms, Inc. (NASDAQ:META)

Strait & Sound Wealth Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,565 shares of the social networking company’s stock after acquiring an additional 278 shares during the period. Meta Platforms comprises about 1.3% of Strait & Sound Wealth Management LLC’s holdings, making the stock its 16th largest holding. Strait & Sound Wealth Management LLC’s holdings in Meta Platforms were worth $2,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. JDM Financial Group LLC purchased a new position in Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the 3rd quarter worth $36,000. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its position 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 valued at $40,000 after buying an additional 44 shares during the period. Finally, Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter worth about $46,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the transaction, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The trade was a 2.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $520.57, for a total transaction of $214,995.41. Following the sale, the chief operating officer now owns 13,185 shares of the company’s stock, valued at approximately $6,863,715.45. This represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,201 shares of company stock worth $95,420,559 over the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 1.6 %

Shares of NASDAQ:META opened at $613.57 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $319.99 and a fifty-two week high of $629.79. The firm’s 50 day moving average price is $580.47 and its 200 day moving average price is $534.10. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities research analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Mizuho raised their target price on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Barclays lifted their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Raymond James reissued a “strong-buy” rating and issued a $675.00 target price on shares of Meta Platforms in a research note on Monday, November 25th. The Goldman Sachs Group lifted their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Robert W. Baird increased their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $635.20.

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.