AlphaCore Capital LLC Increases Position in Meta Platforms, Inc. (NASDAQ:META)

AlphaCore Capital LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 23.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,402 shares of the social networking company’s stock after purchasing an additional 839 shares during the quarter. AlphaCore Capital LLC’s holdings in Meta Platforms were worth $2,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% during the second 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. Halpern Financial Inc. acquired a new position in shares of Meta Platforms during the third quarter valued at about $46,000. West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $49,000. Finally, NewSquare Capital LLC boosted its stake in Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,141 shares of company stock valued at $83,390,497 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on META. Raymond James upped their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 10th. Truist Financial upped their target price on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group lifted their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Robert W. Baird lifted their target price on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two equities research 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Performance

META opened at $559.14 on Monday. The firm has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a PEG ratio of 1.25 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The firm’s 50-day moving average price is $572.74 and its 200 day moving average price is $524.71.

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

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s payout ratio is 9.42%.

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.