Lockerman Financial Group Inc. Acquires 143 Shares of Meta Platforms, Inc. (NASDAQ:META)

Lockerman Financial Group Inc. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 21.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 804 shares of the social networking company’s stock after acquiring an additional 143 shares during the period. Lockerman Financial Group Inc.’s holdings in Meta Platforms were worth $460,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Meta Platforms by 95.6% during the 1st 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 during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms during the 1st quarter valued at about $44,000. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $474.86, for a total transaction of $195,642.32. Following the completion of the transaction, the chief operating officer now directly owns 5,971 shares in the company, valued at $2,835,389.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,826 shares of company stock worth $131,791,613. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Morgan Stanley upped their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price target on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Bank of America increased their target price on shares of Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Wedbush reissued an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $613.46.

Meta Platforms Stock Performance

Meta Platforms stock traded down $4.15 during mid-day trading on Tuesday, hitting $586.27. The company had a trading volume of 9,549,481 shares, compared to its average volume of 15,295,805. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 1.45 and a beta of 1.22. The company’s fifty day moving average is $540.41 and its 200-day moving average is $506.41. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the business posted $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

About Meta Platforms

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.