Ritter Daniher Financial Advisory LLC DE Acquires 3,033 Shares of Meta Platforms, Inc. $META

Ritter Daniher Financial Advisory LLC DE boosted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 634.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,511 shares of the social networking company’s stock after purchasing an additional 3,033 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in Meta Platforms were worth $2,579,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Meta Platforms by 0.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock worth $2,587,000 after purchasing an additional 13 shares in the last quarter. Hemington Wealth Management grew its position in shares of Meta Platforms by 0.6% in the 2nd quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock worth $1,641,000 after buying an additional 14 shares during the period. Vista Capital Partners Inc. increased its stake in shares of Meta Platforms by 1.3% in the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after acquiring an additional 14 shares in the last quarter. Trust Co of the South lifted its position in Meta Platforms by 0.8% during the 3rd quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock valued at $1,359,000 after acquiring an additional 14 shares during the period. Finally, Sentinel Pension Advisors LLC boosted its stake in Meta Platforms by 1.6% during the third quarter. Sentinel Pension Advisors LLC now owns 915 shares of the social networking company’s stock worth $672,000 after acquiring an additional 14 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms News Roundup

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

Wall Street Analysts Forecast Growth

META has been the subject of a number of analyst reports. Erste Group Bank downgraded shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $900.00 price objective (up previously from $870.00) on shares of Meta Platforms in a research report on Thursday, January 29th. Citizens Jmp reiterated an “outperform” rating and set a $900.00 price objective (up previously from $750.00) on shares of Meta Platforms in a research note on Monday, November 24th. Truist Financial increased their target price on Meta Platforms from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Jefferies Financial Group lifted their price target on Meta Platforms from $910.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $847.40.

Read Our Latest Stock Report on META

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $714.60, for a total transaction of $369,448.20. Following the completion of the sale, the chief operating officer directly owned 9,615 shares in the company, valued at $6,870,879. The trade was a 5.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert M. Kimmitt sold 580 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $618.28, for a total transaction of $358,602.40. Following the sale, the director directly owned 5,587 shares of the company’s stock, valued at $3,454,330.36. The trade was a 9.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 39,594 shares of company stock valued at $24,325,407 over the last 90 days. Company insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $661.46 on Friday. The firm’s 50-day moving average price is $656.76 and its 200-day moving average price is $695.12. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company has a market cap of $1.67 trillion, a PE ratio of 28.15, a PEG ratio of 1.13 and a beta of 1.28. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The company had revenue of $59.89 billion for the quarter, compared to the consensus estimate of $58.33 billion. During the same quarter in the prior year, the firm earned $8.02 earnings per share. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is 8.94%.

About Meta Platforms

(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.

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

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