RDA Financial Network Has $7.29 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

RDA Financial Network raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 21.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,738 shares of the social networking company’s stock after purchasing an additional 2,231 shares during the quarter. Meta Platforms accounts for about 2.3% of RDA Financial Network’s investment portfolio, making the stock its 8th biggest position. RDA Financial Network’s holdings in Meta Platforms were worth $7,292,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Richardson Financial Services Inc. raised its position in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms during the first quarter worth about $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,826 shares of company stock valued at $131,791,613. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock traded down $5.85 during mid-day trading on Tuesday, hitting $584.57. 6,989,238 shares of the company’s stock traded hands, compared to its average volume of 15,284,165. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a 50 day simple moving average of $540.41 and a two-hundred day simple moving average of $506.41. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (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 company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company posted $3.23 EPS. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. KeyCorp upped their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $660.00 price target on shares of Meta Platforms in a research report on Monday, October 7th. Robert W. Baird lifted their price objective on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Guggenheim upped their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Evercore ISI lifted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $613.46.

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.