Transform Wealth LLC Has $12.26 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Transform Wealth LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 75.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,418 shares of the social networking company’s stock after buying an additional 9,194 shares during the quarter. Meta Platforms comprises 0.8% of Transform Wealth LLC’s investment portfolio, making the stock its 26th largest holding. Transform Wealth LLC’s holdings in Meta Platforms were worth $12,261,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Gradient Investments LLC increased its stake in Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares during the period. Baillie Gifford & Co. increased its position in shares of Meta Platforms by 14.0% during the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after purchasing an additional 748,076 shares during the period. ERn Financial LLC raised its stake in shares of Meta Platforms by 59.0% in the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock valued at $802,000 after purchasing an additional 613 shares in the last quarter. Stanley Laman Group Ltd. lifted its position in Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after purchasing an additional 352 shares during the period. Finally, Lincoln National Corp boosted its stake in Meta Platforms by 7.8% during the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after buying an additional 2,504 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

META opened at $576.79 on Thursday. The company has a fifty day moving average price of $544.01 and a two-hundred day moving average price of $507.60. The firm has a market capitalization of $1.46 trillion, a PE ratio of 33.13, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the company earned $3.23 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared 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 of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the business’s 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 $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 249,911 shares of company stock worth $131,887,905 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on META. Wells Fargo & Company increased their price objective on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays raised their target price on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Tigress Financial upped their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $613.71.

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.