Acorn Wealth Advisors LLC Grows Holdings in Meta Platforms, Inc. (NASDAQ:META)

Acorn Wealth Advisors LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,254 shares of the social networking company’s stock after buying an additional 18 shares during the period. Acorn Wealth Advisors LLC’s holdings in Meta Platforms were worth $718,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Lindenwold Advisors INC raised its stake in Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after acquiring an additional 17 shares during the period. Central Valley Advisors LLC raised its holdings in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares during the period. Cherrydale Wealth Management LLC boosted its stake in shares of Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares during the period. Finally, Kozak & Associates Inc. grew its position in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after purchasing an additional 18 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the completion of the transaction, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at $11,018,473.83. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,656 shares of company stock valued at $61,933,867 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on META. Wells Fargo & Company reduced their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Mizuho boosted their target price on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. KeyCorp increased their target price on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Two research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

Meta Platforms Price Performance

NASDAQ META opened at $573.54 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock’s fifty day moving average price is $573.38 and its 200 day moving average price is $525.35. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

Meta Platforms Company 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.