Commonwealth Retirement Investments LLC Has $634,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Commonwealth Retirement Investments LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,108 shares of the social networking company’s stock after buying an additional 118 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Meta Platforms were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. Central Valley Advisors LLC boosted its position in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC boosted its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC boosted its position in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after acquiring an additional 18 shares during the last quarter. Kozak & Associates Inc. boosted its position in Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in Meta Platforms by 0.5% during the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock valued at $2,038,000 after acquiring an additional 18 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Down 4.0 %

Shares of META stock opened at $554.08 on Friday. The company has a 50 day moving average of $568.11 and a 200-day moving average of $519.97. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The firm has a market cap of $1.40 trillion, a P/E ratio of 26.10, a PEG ratio of 1.28 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 yield of 0.36%. Meta Platforms’s dividend payout ratio is 9.42%.

Analyst Ratings Changes

A number of brokerages have commented on META. Pivotal Research upped their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America upped their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Tigress Financial upped their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Raymond James upped their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $634.10.

Insider Activity at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the sale, the insider now directly owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $528.38, for a total transaction of $478,183.90. Following the sale, the insider now directly owns 40,532 shares of the company’s stock, valued at $21,416,298.16. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,200 shares of company stock worth $84,533,106. Corporate insiders own 13.71% of the company’s stock.

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.