Bank Hapoalim BM Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Bank Hapoalim BM lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,298 shares of the social networking company’s stock after selling 134 shares during the period. Bank Hapoalim BM’s holdings in Meta Platforms were worth $2,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Accel Wealth Management acquired a new position in shares of Meta Platforms in the 1st quarter valued at $266,000. Core Wealth Partners LLC increased its stake in Meta Platforms by 15.8% in the first quarter. Core Wealth Partners LLC now owns 1,063 shares of the social networking company’s stock valued at $516,000 after purchasing an additional 145 shares during the period. Tempus Wealth Planning LLC raised its holdings in shares of Meta Platforms by 2.2% in the first quarter. Tempus Wealth Planning LLC now owns 2,181 shares of the social networking company’s stock valued at $1,059,000 after buying an additional 46 shares during the last quarter. Spinnaker Investment Group LLC acquired a new stake in shares of Meta Platforms during the first quarter worth about $238,000. Finally, Oak Harvest Investment Services grew its holdings in shares of Meta Platforms by 6.4% during the first quarter. Oak Harvest Investment Services now owns 2,780 shares of the social networking company’s stock worth $1,350,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.1 %

Shares of META stock opened at $567.16 on Friday. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $555.99 and a 200 day moving average price of $513.12. Meta Platforms, Inc. has a twelve month low of $308.33 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 net margin of 35.55% and a return on equity of 35.60%. Research analysts forecast that Meta Platforms, Inc. will post 21.84 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 paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analysts Set New Price Targets

META has been the subject of several analyst reports. Sanford C. Bernstein upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Cantor Fitzgerald restated an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. DA Davidson began coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Jefferies Financial Group upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company lowered their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 251,993 shares of company stock worth $133,271,982 over the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Company 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.