National Wealth Management Group LLC Has $3.19 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

National Wealth Management Group LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,568 shares of the social networking company’s stock after buying an additional 70 shares during the quarter. Meta Platforms makes up approximately 2.2% of National Wealth Management Group LLC’s portfolio, making the stock its 12th largest position. National Wealth Management Group LLC’s holdings in Meta Platforms were worth $3,188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cypress Asset Management Inc. TX increased its stake in Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after buying an additional 3,224 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 0.3% during the first quarter. EverSource Wealth Advisors LLC now owns 16,111 shares of the social networking company’s stock worth $7,823,000 after acquiring an additional 56 shares in the last quarter. OMC Financial Services LTD acquired a new stake in Meta Platforms during the first quarter valued at $4,355,000. American Trust increased its position in Meta Platforms by 1.6% in the 1st quarter. American Trust now owns 3,179 shares of the social networking company’s stock worth $1,544,000 after purchasing an additional 50 shares during the last quarter. Finally, Jackson Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 1st quarter worth about $599,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.09 % 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, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,239 shares of company stock worth $59,681,541. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.8 %

NASDAQ:META opened at $569.20 on Friday. 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 firm has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.25 and a beta of 1.22. The stock’s fifty day simple moving average is $574.75 and its 200-day simple moving average is $526.33. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities research analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on META shares. Sanford C. Bernstein boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Loop Capital increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Finally, KeyCorp upped their target price on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $634.71.

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.