WIM INVESTMENT MANAGEMENT Ltd Invests $1.49 Million in Meta Platforms, Inc. (NASDAQ:META)

WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,600 shares of the social networking company's stock, valued at approximately $1,488,000. Meta Platforms accounts for about 0.6% of WIM INVESTMENT MANAGEMENT Ltd's investment portfolio, making the stock its 12th largest holding.

Other institutional investors have also recently made changes to their positions in the company. LS Investment Advisors LLC raised its holdings in Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company's stock valued at $6,686,000 after buying an additional 6,155 shares in the last quarter. Gradient Investments LLC lifted its stake in Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company's stock valued at $36,600,000 after purchasing an additional 5,953 shares during the last quarter. Cutter & CO Brokerage Inc. increased its holdings in shares of Meta Platforms by 0.7% during the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company's stock worth $5,573,000 after purchasing an additional 65 shares during the period. Stanley Laman Group Ltd. grew its holdings in Meta Platforms by 26.5% during the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company's stock worth $846,000 after acquiring an additional 352 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company's stock worth $235,872,000 after buying an additional 5,594 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total transaction of $469,740.25. Following the transaction, the insider now owns 39,627 shares of the company's stock, valued at $20,568,394.35. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 14,746 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.53, for a total value of $8,162,353.38. The disclosure for this sale can be found here. Insiders sold a total of 185,958 shares of company stock worth $101,181,747 in the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $0.45 on Wednesday, hitting $561.54. 5,950,590 shares of the company traded hands, compared to its average volume of 14,996,767. The firm's 50-day simple moving average is $570.23 and its 200 day simple moving average is $522.73. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a market cap of $1.42 trillion, a P/E ratio of 26.23, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts' expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Scotiabank dropped their price target on Meta Platforms from $585.00 to $583.00 and set a "sector perform" rating for the company in a research report on Thursday, October 31st. Sanford C. Bernstein raised their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. UBS Group boosted their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Finally, Raymond James boosted their price target on Meta Platforms from $600.00 to $650.00 and gave the stock a "strong-buy" rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.