Monolith Management Ltd Makes New $10.53 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Monolith Management Ltd acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,400 shares of the social networking company’s stock, valued at approximately $10,533,000. Meta Platforms makes up approximately 6.2% of Monolith Management Ltd’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC increased its holdings in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC increased its stake in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares during the period. Sustainable Growth Advisers LP purchased a new position in shares of Meta Platforms during the second quarter worth $595,152,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Meta Platforms by 926.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after purchasing an additional 661,923 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in Meta Platforms in the second quarter valued at $285,690,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares of the company’s stock, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,656 shares of company stock worth $61,933,867. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META opened at $573.54 on Wednesday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22. The company has a fifty day simple moving average of $573.38 and a 200 day simple moving average of $525.35.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The company 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%. Equities research analysts expect that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on META. Oppenheimer boosted their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. 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 research note on Thursday, October 31st. Wells Fargo & Company dropped their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Citigroup upped their price objective on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Guggenheim raised their target price on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

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.