ROI Financial Advisors LLC significantly increased its holdings in Meta Platforms, Inc. (NASDAQ: META) by 45.8% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The investment firm now owns 1,388 shares of the social media giant, valued at approximately $1,024,000 following the acquisition of an additional 436 shares during the quarter.
This strategic move by ROI Financial Advisors reflects a broader trend among institutional investors adjusting their positions in Meta Platforms. For instance, Csenge Advisory Group raised its stake by 12.0% in the first quarter, acquiring 1,019 shares to reach a total of 9,539 shares, valued at $5,498,000. Similarly, ARQ Wealth Advisors LLC increased its position by 4.5%, now holding 785 shares worth $452,000, while Infusive Asset Management Inc. grew its holdings by 10.7%, bringing its total to 23,620 shares, valued at $13,614,000.
Insider transactions have also been active at Meta Platforms. On November 10, 2023, Chief Operating Officer Javier Olivan sold 517 shares at an average price of $631.00, totaling $326,227.00. This sale reduced his ownership to 6,924 shares, valued at about $4,369,044. Director Robert M. Kimmitt also sold 465 shares on October 15, 2023, at an average price of $716.97, resulting in a total transaction amount of $333,391.05. Following this transaction, Kimmitt owns 7,947 shares, valued at approximately $5,697,760.59.
Over the last 90 days, insiders have sold 13,359 shares of Meta Platforms, amounting to $9,689,566. Currently, insiders hold 13.61% of the company’s stock, while institutional investors and hedge funds collectively control 79.91% of the shares.
Meta Platforms Stock Performance and Financial Results
As of Monday, October 30, 2023, shares of Meta Platforms opened at $609.46. The company boasts a market capitalization of $1.54 trillion and displays a price-to-earnings ratio of 26.92. With a 52-week low of $479.80 and a 52-week high of $796.25, the stock reflects substantial volatility.
In its latest earnings report released on October 29, 2023, Meta Platforms reported earnings per share (EPS) of $7.25, surpassing analysts’ expectations of $6.74 by $0.51. The company achieved a net revenue of $51.24 billion, which is a significant increase of 26.2% compared to the same quarter last year. The firm’s net margin stands at 30.89%, with a return on equity of 39.35%.
Looking ahead, Meta Platforms has set a guidance for Q4 2025 at an EPS of $26.7 for the current fiscal year, indicating confidence in continued growth.
Dividend Announcements and Company Profile
The company also declared a quarterly dividend, which was disbursed on September 29, 2023. Shareholders of record on September 22, 2023, received a dividend of $0.525 per share. This annualized dividend totals $2.10, yielding 0.3% of the stock price, with a payout ratio of 9.28%.
Meta Platforms, Inc. is engaged in developing products that facilitate connections among users through various platforms, including mobile devices and virtual reality headsets. The company operates through two segments: Family of Apps, which includes Facebook, Instagram, Messenger, and WhatsApp; and Reality Labs, focusing on immersive technologies.
As the company continues to evolve and adapt to market demands, its strategic decisions and financial performance warrant close attention from investors and market analysts alike.
