Tamar Securities LLC Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

Tamar Securities LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,495 shares of the social networking company's stock after buying an additional 5,060 shares during the quarter. Meta Platforms accounts for about 3.6% of Tamar Securities LLC's holdings, making the stock its 8th biggest position. Tamar Securities LLC's holdings in Meta Platforms were worth $25,471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in META. Central Valley Advisors LLC boosted its stake in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock worth $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC lifted its stake in shares of Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock worth $2,199,000 after buying an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC boosted its position in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock worth $1,595,000 after acquiring an additional 18 shares during the last quarter. Firethorn Wealth Partners LLC grew its stake in Meta Platforms by 1.8% during the 3rd quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company's stock valued at $615,000 after acquiring an additional 19 shares in the last quarter. Finally, S.A. Mason LLC raised its holdings in Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company's stock valued at $645,000 after acquiring an additional 20 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Up 0.0 %

Shares of META traded up $0.14 during midday trading on Thursday, reaching $576.93. 8,767,713 shares of the stock were exchanged, compared to its average volume of 15,244,576. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 1.45 and a beta of 1.22. The firm has a 50 day simple moving average of $544.01 and a 200-day simple moving average of $507.60. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the company earned $3.23 earnings per share. The business's revenue was up 22.1% compared to the same quarter last year. Research analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms's dividend payout ratio is 11.49%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Benchmark reiterated a "hold" rating on shares of Meta Platforms in a report on Thursday, July 25th. Jefferies Financial Group lifted their target price on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. BMO Capital Markets boosted their target price on shares of Meta Platforms from $475.00 to $525.00 and gave the company a "market perform" rating in a report on Wednesday, October 9th. Truist Financial raised their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Robert W. Baird upped their price objective on Meta Platforms from $530.00 to $605.00 and gave the company an "outperform" rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $617.37.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the business's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. The trade was 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 link. In related news, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company's stock, valued at $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,911 shares of company stock worth $131,887,905. Insiders own 13.71% of the company's stock.

About Meta Platforms

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.