Klingenstein Fields & Co. LP grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 231.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,670 shares of the social networking company's stock after purchasing an additional 18,624 shares during the period. Klingenstein Fields & Co. LP's holdings in Meta Platforms were worth $15,267,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company's stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors boosted its position in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company's stock worth $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital Research Global Investors boosted its position in shares of 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 buying an additional 4,379,826 shares in the last quarter. Jennison Associates LLC grew its stake in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company's stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC increased its holdings in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company's stock valued at $5,582,876,000 after acquiring an additional 342,742 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Stock Up 3.4 %
NASDAQ:META traded up $19.62 during trading hours on Thursday, hitting $591.67. 12,252,371 shares of the stock traded hands, compared to its average volume of 15,123,219. The firm has a 50 day moving average price of $558.95 and a 200 day moving average price of $514.71. The firm has a market cap of $1.50 trillion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.24 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during 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%. 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 announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms's payout ratio is 9.42%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on META shares. Bank of America raised their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Susquehanna boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a "positive" rating in a report on Thursday, October 31st. JMP Securities increased their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a "market outperform" rating in a research note on Thursday, October 31st. Robert W. Baird boosted their target price 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. Finally, DA Davidson began coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They set a "buy" rating and a $600.00 price target on the stock. Two investment 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 company's stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $634.10.
Read Our Latest Analysis on Meta Platforms
Insider Activity at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the transaction, the chief operating officer now owns 10,294 shares in the company, valued at $5,842,668.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,919 shares of company stock valued at $129,296,067. Insiders own 13.71% of the company's stock.
Meta Platforms Profile
(
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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