Everhart Financial Group Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,876 shares of the social networking company's stock after acquiring an additional 1,507 shares during the quarter. Meta Platforms accounts for approximately 1.6% of Everhart Financial Group Inc.'s holdings, making the stock its 10th biggest holding. Everhart Financial Group Inc.'s holdings in Meta Platforms were worth $7,371,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in META. International Assets Investment Management LLC lifted its stake in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Capital Research Global Investors increased its stake in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company's stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Sustainable Growth Advisers LP bought a new stake in Meta Platforms in the second quarter valued at approximately $595,152,000. Vanguard Group Inc. lifted its position in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company's stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Meta Platforms by 30.0% during the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company's stock valued at $1,656,318,000 after purchasing an additional 788,131 shares during the period. 79.91% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Tigress Financial upped their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a "strong-buy" rating in a report on Friday, August 16th. Robert W. Baird upped their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Royal Bank of Canada reissued an "outperform" rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. KeyCorp upped their price target on Meta Platforms from $560.00 to $655.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus boosted their target price on Meta Platforms from $590.00 to $663.00 and gave the company a "buy" rating in a research note on Monday, October 14th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $634.10.
Check Out Our Latest Research Report on Meta Platforms
Meta Platforms Price Performance
META opened at $577.16 on Friday. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.28 and a beta of 1.22. The company's 50-day simple moving average is $567.03 and its two-hundred day simple moving average is $519.13. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results 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 company had revenue of $40.59 billion for the quarter, compared to the consensus estimate 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 predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.
Insider Activity
In related news, insider Jennifer Newstead sold 905 shares of the company's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $528.38, for a total transaction of $478,183.90. Following the completion of the transaction, the insider now owns 40,532 shares in the company, valued at approximately $21,416,298.16. This represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold a total of 158,200 shares of company stock valued at $84,533,106 in the last ninety days. Corporate insiders own 13.71% of the company's stock.
Meta Platforms Company Profile
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Free Report)
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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