Northeast Financial Consultants Inc boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,388 shares of the social networking company’s stock after purchasing an additional 81 shares during the period. Northeast Financial Consultants Inc’s holdings in Meta Platforms were worth $795,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Lindenwold Advisors INC boosted its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC boosted its holdings in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC grew its position in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after buying an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. lifted its position in shares of Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on META shares. Rosenblatt Securities restated a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a report on Thursday, October 31st. DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. Citigroup boosted their price objective on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays raised their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Pivotal Research lifted their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two 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 a consensus target price of $634.71.
Meta Platforms Stock Performance
Shares of NASDAQ META opened at $623.77 on Friday. Meta Platforms, Inc. has a 12 month low of $317.77 and a 12 month high of $629.79. The company has a market cap of $1.57 trillion, a P/E ratio of 29.38, a P/E/G ratio of 1.35 and a beta of 1.20. The business’s 50 day moving average is $579.64 and its two-hundred day moving average is $532.13. 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 (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 0.32%. The ex-dividend date is Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.
Insider Activity at Meta Platforms
In other news, CEO Mark Zuckerberg sold 84 shares of the 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 transaction, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $595.00, for a total transaction of $538,475.00. Following the transaction, the insider now directly owns 36,535 shares of the company’s stock, valued at $21,738,325. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,160 shares of company stock worth $81,611,223. Company insiders own 13.71% of the company’s stock.
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.
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