Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by WorthPointe LLC

WorthPointe LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 14.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 834 shares of the social networking company’s stock after buying an additional 104 shares during the period. WorthPointe LLC’s holdings in Meta Platforms were worth $477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of META. International Assets Investment Management LLC lifted its stake in shares of 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 acquiring an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC grew its holdings in Meta Platforms by 61,769.3% during 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 bought a new stake in Meta Platforms in the second quarter worth about $595,152,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Meta Platforms by 926.6% in the 2nd 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 acquiring an additional 661,923 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Meta Platforms in the 2nd quarter worth approximately $285,690,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company cut their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms Price Performance

NASDAQ:META opened at $569.20 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a 50-day moving average of $574.12 and a 200-day moving average of $526.03. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given 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 of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Insider Buying and Selling

In other news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the transaction, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,561 shares of company stock valued at $62,445,464 over the last ninety days. 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.