Regal Partners Ltd Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Regal Partners Ltd lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,576 shares of the social networking company's stock after acquiring an additional 9,011 shares during the quarter. Meta Platforms comprises approximately 3.7% of Regal Partners Ltd's holdings, making the stock its 9th biggest holding. Regal Partners Ltd's holdings in Meta Platforms were worth $42,118,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in META. China Universal Asset Management Co. Ltd. lifted its position in shares of Meta Platforms by 48.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company's stock worth $23,886,000 after purchasing an additional 16,138 shares in the last quarter. Empowered Funds LLC lifted its holdings in Meta Platforms by 22.4% in the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company's stock worth $32,629,000 after buying an additional 12,301 shares in the last quarter. Cypress Asset Management Inc. TX boosted its position in Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company's stock valued at $1,862,000 after buying an additional 3,224 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Meta Platforms by 3.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 11,273 shares of the social networking company's stock valued at $5,474,000 after acquiring an additional 337 shares in the last quarter. Finally, Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company's stock worth $34,000 after acquiring an additional 58 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 4.0 %

Shares of META stock traded down $23.08 on Friday, reaching $554.08. 17,712,864 shares of the company's stock traded hands, compared to its average volume of 13,132,762. The business's 50 day moving average price is $568.11 and its two-hundred day moving average price is $520.60. The company has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. 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 12-month low of $313.66 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The company 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%. On average, equities 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 given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms's payout ratio is 9.42%.

Analysts Set New Price Targets

A number of brokerages recently commented on META. JMP Securities increased their price target on Meta Platforms from $635.00 to $660.00 and gave the company a "market outperform" rating in a report on Thursday, October 31st. DA Davidson began coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a "buy" rating and a $600.00 price target for the company. Truist Financial upped 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 shares of Meta Platforms from $600.00 to $665.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Finally, Bank of America upped their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Two 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $634.10.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 33,018 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total value of $8,906,174.48. Following the completion of the sale, the chief executive officer now directly owns 28,838 shares of the company's stock, valued at approximately $15,377,575.12. The trade was a 36.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,200 shares of company stock valued at $84,533,106 in the last quarter. Company insiders own 13.71% of the company's stock.

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.