Bell Bank Purchases 5,183 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bell Bank raised its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 42.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,430 shares of the social networking company's stock after purchasing an additional 5,183 shares during the period. Meta Platforms accounts for approximately 1.2% of Bell Bank's investment portfolio, making the stock its 15th biggest position. Bell Bank's holdings in Meta Platforms were worth $9,978,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. LS Investment Advisors LLC increased its position in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company's stock worth $6,686,000 after buying an additional 6,155 shares during the period. Gradient Investments LLC increased its position in Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company's stock worth $36,600,000 after acquiring an additional 5,953 shares during the period. Cutter & CO Brokerage Inc. raised its position in shares of Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company's stock valued at $5,573,000 after buying an additional 65 shares in the last quarter. Stanley Laman Group Ltd. raised its holdings in Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company's stock valued at $846,000 after acquiring an additional 352 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Meta Platforms by 1.4% during the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company's stock worth $235,872,000 after purchasing an additional 5,594 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Down 4.0 %

Shares of META stock traded down $23.08 on Friday, reaching $554.08. 17,712,864 shares of the company were exchanged, compared to its average volume of 13,132,762. The company has a 50-day moving average of $568.11 and a 200-day moving average of $520.60. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms's payout ratio is 9.42%.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,200 shares of company stock valued at $84,533,106. Corporate insiders own 13.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on META. DA Davidson started coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a "buy" rating and a $600.00 price objective on the stock. Jefferies Financial Group lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Susquehanna upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a "positive" rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on Meta Platforms from $525.00 to $530.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Two equities 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $634.10.

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.