Pinion Investment Advisors LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 24.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,881 shares of the social networking company’s stock after acquiring an additional 965 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Meta Platforms were worth $3,539,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Horizons Wealth Management acquired a new position in shares of Meta Platforms during the third quarter worth $33,000. Advantage Trust Co purchased a new stake in Meta Platforms in the second quarter valued at about $28,000. Prudent Man Investment Management Inc. boosted its holdings in Meta Platforms by 116.7% in the third quarter. Prudent Man Investment Management Inc. now owns 52 shares of the social networking company’s stock worth $38,000 after acquiring an additional 28 shares in the last quarter. Philadelphia Investment Partners LLC purchased a new stake in shares of Meta Platforms during the second quarter worth about $32,000. Finally, Axiom Investment Management LLC purchased a new stake in shares of Meta Platforms during the first quarter worth about $36,000. Institutional investors own 79.91% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Yorkville Ives assumed coverage on shares of Meta Platforms in a report on Tuesday, October 6th. They set an “outperform” rating and a $900.00 price objective on the stock. Royal Bank Of Canada lifted their target price on shares of Meta Platforms from $770.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Susquehanna boosted their target price on shares of Meta Platforms from $650.00 to $850.00 and gave the stock a “positive” rating in a research report on Thursday, October 22nd. HSBC cut their price target on shares of Meta Platforms from $905.00 to $830.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Meta Platforms from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $833.12.
Get Our Latest Stock Report on META
Trending Headlines about Meta Platforms
Investors following META have been watching these headlines:
- Positive Sentiment: ETFs bought about $102.4 million of META shares on Nov. 11, indicating institutional demand that may have helped support the stock. 55 ETFs Add to Meta Platforms (META) on Nov. 11
- Neutral Sentiment: Meta employees are testing Takes, an in-development prediction-market app where users make forecasts using “cred,” not money. A public launch is uncertain, so any business impact remains unclear. Meta employees test prediction-market app, WSJ reports
- Negative Sentiment: A bearish technical analysis says META recently fell below its 200-day moving average, a signal that could encourage caution among momentum-focused investors. As Meta Platforms Continues To Weaken, A Bearish Trade May Be In Order
Insider Buying and Selling
In other Meta Platforms news, COO Javier Olivan sold 946 shares of Meta Platforms stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $631.03, for a total transaction of $596,954.38. Following the completion of the sale, the chief operating officer directly owned 3,148 shares in the company, valued at approximately $1,986,482.44. The trade was a 23.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 148,846 shares of company stock worth $101,660,996. Insiders own 13.42% of the company’s stock.
Meta Platforms Stock Performance
Shares of NASDAQ:META traded up $18.08 during trading on Friday, hitting $641.69. The stock had a trading volume of 15,115,862 shares, compared to its average volume of 24,035,764. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $779.82. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.08 and a beta of 1.28. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $679.85 and a two-hundred day simple moving average of $631.72.
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.86. The firm had revenue of $64.60 billion during the quarter, compared to the consensus estimate of $63.34 billion. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The company’s revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.25 earnings per share. On average, equities research analysts expect that Meta Platforms, Inc. will post 29.01 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, September 21st were given a dividend of $0.5250 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is currently 7.16%.
Meta Platforms Company Profile
Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.
Further Reading
- Five stocks we like better than Meta Platforms
- 3 Power and Grid Stocks That Could Keep Growing Even if AI Spending Slows
- Applied Materials Beats and Raises, But Investors Stay Unconvinced
- Is It Too Late to Buy the Dip? 3 Corners of the Market Still Offering Real Value
- Why Equinix and Digital Realty Benefit From Data Center Zoning Battles
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Free Report).
Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.
