Swiss National Bank Has $3.72 Billion Position in Meta Platforms, Inc. (NASDAQ:META)

Swiss National Bank raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,504,600 shares of the social networking company's stock after acquiring an additional 17,100 shares during the period. Meta Platforms makes up approximately 2.4% of Swiss National Bank's investment portfolio, making the stock its 5th largest position. Swiss National Bank owned about 0.26% of Meta Platforms worth $3,723,493,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at about $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter worth about $49,000. Finally, NewSquare Capital LLC lifted its holdings in Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company's stock worth $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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Wells Fargo & Company reduced their price target on Meta Platforms from $652.00 to $641.00 and set an "overweight" rating for the company in a report on Friday, November 1st. BMO Capital Markets raised their price target on Meta Platforms from $525.00 to $530.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Roth Mkm increased their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. 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. According to data from MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $634.10.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $4.45 during midday trading on Wednesday, reaching $565.54. The company's stock had a trading volume of 7,168,296 shares, compared to its average volume of 15,002,179. 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, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a market cap of $1.43 trillion, a P/E ratio of 26.23, a P/E/G ratio of 1.23 and a beta of 1.22. The business's 50 day moving average price is $570.23 and its two-hundred day moving average price is $522.73.

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, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend 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 Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 14,746 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.53, for a total transaction of $8,162,353.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,958 shares of company stock worth $101,181,747. 13.71% of the stock is owned by insiders.

Meta Platforms 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.