Applied Finance Capital Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 405.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 556,270 shares of the social networking company's stock after purchasing an additional 446,285 shares during the quarter. Meta Platforms makes up 7.7% of Applied Finance Capital Management LLC's portfolio, making the stock its 2nd biggest holding. Applied Finance Capital Management LLC's holdings in Meta Platforms were worth $318,431,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of META. CWA Asset Management Group LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at approximately $28,431,000. Equitable Trust Co. raised its stake in shares of Meta Platforms by 62.3% in the third quarter. Equitable Trust Co. now owns 17,045 shares of the social networking company's stock valued at $9,757,000 after acquiring an additional 6,541 shares during the last quarter. Beckerman Institutional LLC bought a new position in Meta Platforms in the 3rd quarter worth approximately $1,469,000. Leavell Investment Management Inc. grew its holdings in shares of Meta Platforms by 7.5% in the 3rd quarter. Leavell Investment Management Inc. now owns 9,009 shares of the social networking company's stock valued at $5,157,000 after buying an additional 632 shares during the period. Finally, Fiera Capital Corp boosted its stake in Meta Platforms by 11.3% in the 3rd quarter. Fiera Capital Corp now owns 30,347 shares of the social networking company's stock worth $17,372,000 after purchasing an additional 3,075 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Activity
In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Mark Zuckerberg sold 16,702 shares of the business'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 value of $8,827,174.02. Following the transaction, the chief executive officer now owns 72,473 shares in the company, valued at approximately $38,302,705.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 211,416 shares of company stock valued at $112,638,243 over the last ninety days. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Price Performance
Shares of NASDAQ META traded up $1.65 during trading on Tuesday, reaching $584.82. The company had a trading volume of 16,271,977 shares, compared to its average volume of 15,090,865. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market cap of $1.48 trillion, a PE ratio of 27.64, a PEG ratio of 1.30 and a beta of 1.22. The business's 50 day moving average price is $563.02 and its 200-day moving average price is $517.29. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $40.21 billion. Analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms's payout ratio is presently 9.42%.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. 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 target price on the stock. Robert W. Baird increased their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of Meta Platforms from $652.00 to $641.00 and set an "overweight" rating on the stock in a report on Friday, November 1st. TD Cowen raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Finally, JMP Securities lifted their target price on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a "market outperform" rating in a report on Thursday, October 31st. Two investment 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 given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $634.10.
Check Out Our Latest Stock Report on META
Meta Platforms Company 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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