Larson Financial Group LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 16.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,088 shares of the social networking company’s stock after acquiring an additional 1,258 shares during the quarter. Larson Financial Group LLC’s holdings in Meta Platforms were worth $5,202,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Jennison Associates LLC increased its position in shares of Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after buying an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the period. International Assets Investment Management LLC increased its holdings in Meta Platforms by 57,001.5% during 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. Dimensional Fund Advisors LP increased its holdings in Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after acquiring an additional 208,677 shares during the period. Finally, Swiss National Bank lifted its stake in Meta Platforms by 0.3% in the 3rd quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock worth $3,723,493,000 after purchasing an additional 17,100 shares in the last quarter. 79.91% of the stock is owned by institutional investors.
Analyst Ratings Changes
META has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Oppenheimer upped their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note 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 given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.
Insider Buying and Selling
In related news, CAO Aaron Anderson sold 731 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 7,975 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total value of $4,117,971.00. Following the completion of the sale, the chief executive officer now directly owns 531,884 shares in the company, valued at $274,643,622.24. This trade represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,218 shares of company stock worth $65,819,414 in the last three months. 13.71% of the stock is owned by corporate insiders.
Meta Platforms Stock Performance
Meta Platforms stock opened at $565.11 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The stock’s 50 day simple moving average is $573.38 and its two-hundred day simple moving average is $525.35. 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 stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.23 and a beta of 1.22.
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company 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, analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis 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 presently 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.
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