FFG Partners LLC Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

FFG Partners LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,750 shares of the social networking company’s stock after purchasing an additional 121 shares during the period. Meta Platforms accounts for 2.9% of FFG Partners LLC’s holdings, making the stock its 14th biggest position. FFG Partners LLC’s holdings in Meta Platforms were worth $8,444,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of META. JDM Financial Group LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms in the 3rd quarter worth about $36,000. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Finally, Halpern Financial Inc. bought a new position in Meta Platforms in the 3rd quarter worth approximately $46,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.2 %

Shares of Meta Platforms stock traded down $1.40 on Friday, hitting $629.39. The stock had a trading volume of 1,026,009 shares, compared to its average volume of 14,711,015. 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 one year low of $328.64 and a one year high of $638.40. The stock’s 50-day simple moving average is $583.48 and its two-hundred day simple moving average is $536.44. The stock has a market cap of $1.59 trillion, a price-to-earnings ratio of 29.71, a PEG ratio of 1.39 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s payout ratio is currently 9.42%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on META shares. BMO Capital Markets boosted their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. TD Cowen increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Guggenheim lifted their target price on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Roth Mkm boosted their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $635.20.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the sale, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. This represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,002 shares of company stock worth $126,740,653. 13.71% of the stock is currently owned by corporate insiders.

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.