Capital Insight Partners LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,400 shares of the social networking company’s stock after acquiring an additional 613 shares during the period. Meta Platforms comprises approximately 1.5% of Capital Insight Partners LLC’s investment portfolio, making the stock its 15th largest holding. Capital Insight Partners LLC’s holdings in Meta Platforms were worth $8,816,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Central Valley Advisors LLC increased its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the last quarter. S.A. Mason LLC increased its holdings in Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares during the last quarter. Front Row Advisors LLC increased its holdings in Meta Platforms by 5.7% during the second quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock valued at $187,000 after buying an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN raised its position in Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the period. Finally, Northern Capital Management Inc. boosted its stake in shares of Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after acquiring an additional 21 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on META shares. JPMorgan Chase & Co. raised their target price on Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Wells Fargo & Company raised their price objective on Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Tigress Financial lifted their price objective on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. BMO Capital Markets increased their target price on shares of Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, UBS Group lifted their price target on shares of Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $608.58.
Meta Platforms Trading Down 0.9 %
NASDAQ META traded down $5.03 on Thursday, hitting $585.48. 4,146,088 shares of the stock were exchanged, compared to its average volume of 15,378,196. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 33.68, a P/E/G ratio of 1.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a fifty day moving average price of $534.36 and a two-hundred day moving average price of $504.36.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the company earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.
Insider Activity at Meta Platforms
In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $501.42, for a total transaction of $453,785.10. Following the completion of the sale, the insider now directly owns 36,035 shares in the company, valued at approximately $18,068,669.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total value of $453,785.10. Following the sale, the insider now directly owns 36,035 shares of the company’s stock, valued at approximately $18,068,669.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 266,412 shares of company stock worth $140,058,708 in the last quarter. 13.71% of the stock is owned by company insiders.
Meta Platforms 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.
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