Howe & Rusling Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,637 shares of the social networking company's stock after buying an additional 1,371 shares during the period. Meta Platforms makes up approximately 2.0% of Howe & Rusling Inc.'s holdings, making the stock its 12th largest holding. Howe & Rusling Inc.'s holdings in Meta Platforms were worth $23,262,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company's stock worth $8,266,531,000 after buying an additional 263,063 shares during the period. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% in the third 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 in the last quarter. Dimensional Fund Advisors LP increased its position 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 valued at $3,911,029,000 after purchasing an additional 208,677 shares during the period. Swiss National Bank increased its position in Meta Platforms by 0.3% during the 3rd quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company's stock valued at $3,723,493,000 after purchasing an additional 17,100 shares during the period. Finally, Baillie Gifford & Co. lifted its position in shares of Meta Platforms by 5.8% in the 3rd quarter. Baillie Gifford & Co. now owns 6,150,374 shares of the social networking company's stock worth $3,520,720,000 after purchasing an additional 338,263 shares during the period. Institutional investors own 79.91% of the company's stock.
Insider Transactions at Meta Platforms
In related news, CFO Susan J. Li sold 33,018 shares of the company's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares of the company's stock, valued at $311,493,681. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,843 shares of company stock valued at $92,083,554. 13.71% of the stock is currently owned by corporate insiders.
Meta Platforms Price Performance
Shares of META stock traded down $3.95 on Friday, hitting $559.14. 9,164,004 shares of the stock traded hands, compared to its average volume of 13,967,285. 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 52 week low of $313.66 and a 52 week high of $602.95. The firm has a 50 day simple moving average of $572.74 and a two-hundred day simple moving average of $523.96. The firm has a market cap of $1.41 trillion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.25 and a beta of 1.22.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly 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 business had revenue of $40.59 billion for 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, equities research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms's payout ratio is currently 9.42%.
Wall Street Analyst Weigh In
META has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. KeyCorp raised their target price on Meta Platforms from $560.00 to $655.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. Guggenheim upped their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. JMP Securities raised their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $634.10.
Read Our Latest Report on META
About Meta Platforms
(
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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