Natixis Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,669,051 shares of the social networking company's stock after buying an additional 91,673 shares during the period. Meta Platforms makes up 1.9% of Natixis Advisors LLC's portfolio, making the stock its 5th largest holding. Natixis Advisors LLC owned approximately 0.07% of Meta Platforms worth $955,431,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. POM Investment Strategies LLC bought a new position in Meta Platforms in the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the 3rd quarter worth $46,000. West Financial Advisors LLC purchased a new stake in Meta Platforms in the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC lifted its position in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company's stock valued at $52,000 after purchasing an additional 71 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Meta Platforms
In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 28,838 shares of the company's stock, valued at approximately $15,377,575.12. This represents a 36.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,593 shares of company stock valued at $75,253,970. 13.71% of the stock is owned by corporate insiders.
Meta Platforms Trading Up 0.5 %
Shares of NASDAQ:META traded up $2.50 during trading on Tuesday, reaching $556.90. The stock had a trading volume of 4,654,286 shares, compared to its average volume of 15,015,419. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. 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 firm's fifty day moving average is $569.10 and its 200 day moving average is $521.96. The stock has a market cap of $1.41 trillion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 1.23 and a beta of 1.22.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms's payout ratio is presently 9.42%.
Analyst Ratings Changes
A number of analysts have recently commented on META shares. BMO Capital Markets boosted their price objective on Meta Platforms from $525.00 to $530.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Raymond James raised their price objective on Meta Platforms from $600.00 to $650.00 and gave the stock a "strong-buy" rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. TD Cowen lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Finally, Loop Capital raised their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $634.10.
View Our Latest Stock Report on META
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.
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