Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Concord Asset Management LLC VA

Concord Asset Management LLC VA raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,508 shares of the social networking company's stock after acquiring an additional 1,653 shares during the period. Meta Platforms makes up 1.7% of Concord Asset Management LLC VA's investment portfolio, making the stock its 15th biggest holding. Concord Asset Management LLC VA's holdings in Meta Platforms were worth $7,733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms in the third quarter worth $46,000. West Financial Advisors LLC bought a new stake in Meta Platforms in the third quarter worth $49,000. Finally, NewSquare Capital LLC raised its position in shares of Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company's stock valued at $52,000 after buying an additional 71 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.1 %

Shares of Meta Platforms stock traded up $0.45 during trading hours on Wednesday, reaching $561.54. The stock had a trading volume of 5,950,590 shares, compared to its average volume of 14,996,767. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a 50 day simple moving average of $570.23 and a two-hundred day simple moving average of $522.73. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.23 and a beta of 1.22.

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 (EPS) for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts' expectations of $40.21 billion. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on META shares. BMO Capital Markets lifted their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Loop Capital boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. Truist Financial lifted their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Piper Sandler upped their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, Wedbush reiterated an "outperform" rating and set a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. Two 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $634.10.

Insider Activity at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the business'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 value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 620 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the sale, the chief operating officer now directly owns 19,992 shares in the company, valued at approximately $11,135,544. This represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,958 shares of company stock valued at $101,181,747 over the last three months. 13.71% of the stock is owned by insiders.

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.