M&G PLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 721,339 shares of the social networking company's stock after purchasing an additional 91,773 shares during the period. Meta Platforms accounts for approximately 2.1% of M&G PLC's holdings, making the stock its 7th biggest holding. M&G PLC's holdings in Meta Platforms were worth $412,606,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Delos Wealth Advisors LLC increased its holdings in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company's stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $49,000. Institutional investors own 79.91% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on META shares. Loop Capital upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. 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 report on Thursday, October 10th. Guggenheim raised their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. Tigress Financial boosted their target price on Meta Platforms from $575.00 to $645.00 and gave the company a "strong-buy" rating in a research note on Friday, August 16th. Finally, Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $634.10.
Check Out Our Latest Stock Report on Meta Platforms
Meta Platforms Stock Performance
NASDAQ META traded down $2.36 during trading on Friday, reaching $589.34. 9,415,699 shares of the company's stock were exchanged, compared to its average volume of 12,219,550. 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 business has a 50 day moving average price of $561.78 and a 200-day moving average price of $516.29. The stock has a market capitalization of $1.49 trillion, a P/E ratio of 27.76, a PEG ratio of 1.27 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.
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, topping analysts' consensus estimates 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. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. 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%.
Insider Buying and Selling
In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the sale, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $532.21, for a total value of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares of the company's stock, valued at $22,053,185.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the sale, the chief executive officer now owns 72,473 shares of the company's stock, valued at approximately $38,302,705.23. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 228,118 shares of company stock valued at $121,237,935. Company insiders own 13.71% of the company's stock.
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.
Featured Articles
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
