Metis Global Partners LLC Grows Holdings in Meta Platforms, Inc. (NASDAQ:META)

Metis Global Partners LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,996 shares of the social networking company's stock after buying an additional 2,345 shares during the quarter. Meta Platforms comprises 2.2% of Metis Global Partners LLC's portfolio, making the stock its 7th biggest holding. Metis Global Partners LLC's holdings in Meta Platforms were worth $70,408,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Central Valley Advisors LLC lifted its position in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock valued at $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC grew its stake in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock valued at $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC raised its position in shares of Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock worth $1,595,000 after buying an additional 18 shares in the last quarter. Kozak & Associates Inc. boosted its position in shares of Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock valued at $1,099,000 after acquiring an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in Meta Platforms by 0.5% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company's stock worth $2,038,000 after buying an additional 18 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,498 shares of company stock valued at $75,732,154 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META traded up $1.64 during midday trading on Monday, reaching $555.72. 10,358,277 shares of the stock were exchanged, compared to its average volume of 15,043,996. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.40 trillion, a P/E ratio of 26.26, a PEG ratio of 1.23 and a beta of 1.22. The stock's 50 day simple moving average is $568.11 and its 200 day simple moving average is $521.17.

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 company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.

Analysts Set New Price Targets

Several research firms have weighed in on META. Robert W. Baird boosted their price target 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. Barclays upped their price target on Meta Platforms from $550.00 to $630.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Jefferies Financial Group lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Morgan Stanley lifted their target price on Meta Platforms from $550.00 to $575.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Finally, Wedbush reissued an "outperform" rating and set a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Two 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $634.10.

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.