Amalgamated Bank Increases Position in Meta Platforms, Inc. (NASDAQ:META)

Amalgamated Bank grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 486,692 shares of the social networking company's stock after acquiring an additional 16,191 shares during the period. Meta Platforms comprises about 2.3% of Amalgamated Bank's holdings, making the stock its 5th biggest position. Amalgamated Bank's holdings in Meta Platforms were worth $278,602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sentry Investment Management LLC increased its stake in shares of Meta Platforms by 4.9% during the 3rd quarter. Sentry Investment Management LLC now owns 10,507 shares of the social networking company's stock worth $6,015,000 after purchasing an additional 495 shares in the last quarter. United Advisor Group LLC increased its stake in shares of Meta Platforms by 128.1% during the 3rd quarter. United Advisor Group LLC now owns 9,071 shares of the social networking company's stock worth $5,193,000 after purchasing an additional 5,095 shares in the last quarter. FSM Wealth Advisors LLC increased its stake in shares of Meta Platforms by 16.3% during the 3rd quarter. FSM Wealth Advisors LLC now owns 2,973 shares of the social networking company's stock worth $1,702,000 after purchasing an additional 417 shares in the last quarter. Catalyst Capital Advisors LLC increased its stake in shares of Meta Platforms by 24.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 8,563 shares of the social networking company's stock worth $4,902,000 after purchasing an additional 1,708 shares in the last quarter. Finally, Rational Advisors LLC grew its stake in Meta Platforms by 16.7% in the 3rd quarter. Rational Advisors LLC now owns 9,365 shares of the social networking company's stock worth $5,361,000 after acquiring an additional 1,339 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Robert W. Baird lifted their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Evercore ISI boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. Finally, Morgan Stanley boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Two equities research 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. According to MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $634.10.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 transaction of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now owns 37,817 shares of the company's stock, valued at approximately $19,197,043.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 228,118 shares of company stock valued at $121,237,935. Insiders own 13.71% of the company's stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $2.36 during trading on Friday, hitting $589.34. 9,403,666 shares of the company's stock traded hands, compared to its average volume of 15,107,506. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm's fifty day moving average price is $560.42 and its 200 day moving average price is $515.25. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a market cap of $1.49 trillion, a PE ratio of 27.76, a PEG ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms's dividend payout ratio is presently 9.42%.

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.