The Manufacturers Life Insurance Company lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,675,733 shares of the social networking company's stock after selling 15,719 shares during the quarter. Meta Platforms accounts for about 0.8% of The Manufacturers Life Insurance Company's investment portfolio, making the stock its 14th biggest holding. The Manufacturers Life Insurance Company owned about 0.07% of Meta Platforms worth $959,237,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Lindenwold Advisors INC lifted its position in Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC raised its stake in shares of Meta Platforms by 0.3% in the third 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 raised 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 purchasing an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC lifted its holdings 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 valued at $1,595,000 after purchasing an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. grew its holdings in Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock worth $1,099,000 after buying an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Scotiabank dropped their price objective on Meta Platforms from $585.00 to $583.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 31st. Barclays boosted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. UBS Group increased their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Bank of America lifted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Guggenheim increased their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a "buy" rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $634.71.
Check Out Our Latest Research Report on META
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares of the company's stock, valued at $11,018,473.83. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,656 shares of company stock valued at $61,933,867. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Trading Down 0.7 %
Shares of NASDAQ:META traded down $4.20 during midday trading on Wednesday, hitting $569.34. 845,891 shares of the stock traded hands, compared to its average volume of 14,883,734. 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 business's 50 day moving average is $573.38 and its two-hundred day moving average is $525.35. The stock has a market capitalization of $1.44 trillion, a PE ratio of 27.06, a P/E/G ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms's dividend payout ratio (DPR) is currently 9.42%.
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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