Intrua Financial LLC Has $1.71 Million Stake in Meta Platforms, Inc. $META

Intrua Financial LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 109.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,331 shares of the social networking company’s stock after acquiring an additional 1,218 shares during the quarter. Intrua Financial LLC’s holdings in Meta Platforms were worth $1,711,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. High Net Worth Advisory Group LLC lifted its holdings in Meta Platforms by 1.6% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,648 shares of the social networking company’s stock worth $3,414,000 after buying an additional 75 shares in the last quarter. Rovin Capital UT ADV raised its position in shares of Meta Platforms by 12.2% during the third quarter. Rovin Capital UT ADV now owns 1,593 shares of the social networking company’s stock worth $1,170,000 after acquiring an additional 173 shares during the last quarter. Formidable Asset Management LLC lifted its stake in shares of Meta Platforms by 2.5% during the third quarter. Formidable Asset Management LLC now owns 26,882 shares of the social networking company’s stock valued at $19,836,000 after acquiring an additional 643 shares during the period. Archvest Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the third quarter valued at $916,000. Finally, Sterling Investment Advisors LLC ADV bought a new position in Meta Platforms in the third quarter valued at about $377,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

Insider Buying and Selling at Meta Platforms

In other news, Director Robert M. Kimmitt sold 600 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the transaction, the director owned 7,347 shares in the company, valued at $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the sale, the chief technology officer directly owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This represents a 82.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,596 shares of company stock worth $24,277,237 over the last three months. Company insiders own 13.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on META. Citizens Jmp restated an “outperform” rating and set a $900.00 target price (up from $750.00) on shares of Meta Platforms in a research report on Monday, November 24th. Wall Street Zen lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. BNP Paribas Exane initiated coverage on shares of Meta Platforms in a research note on Monday, November 24th. They issued an “outperform” rating and a $800.00 price objective on the stock. Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, DA Davidson set a $825.00 price target on Meta Platforms in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $822.00.

Check Out Our Latest Report on META

Meta Platforms Price Performance

Shares of META stock opened at $672.97 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The firm has a fifty day moving average of $645.06 and a 200-day moving average of $696.04. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The firm had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. During the same period in the previous year, the company posted $6.03 earnings per share. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Meta Platforms’s payout ratio is 9.28%.

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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