Financial Advocates Investment Management Acquires 107 Shares of Meta Platforms, Inc. (NASDAQ:META)

Financial Advocates Investment Management grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,151 shares of the social networking company’s stock after acquiring an additional 107 shares during the quarter. Financial Advocates Investment Management’s holdings in Meta Platforms were worth $5,811,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of META. International Assets Investment Management LLC increased its holdings in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Capital Research Global Investors grew its position in Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares in the last quarter. Jennison Associates LLC increased its stake in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Sustainable Growth Advisers LP acquired a new position in Meta Platforms in the 2nd quarter valued at approximately $595,152,000. Finally, Vanguard Group Inc. lifted its position in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 6,534 shares of Meta Platforms stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total value of $3,299,931.36. Following the transaction, the chief executive officer now owns 116,108 shares of the company’s stock, valued at approximately $58,639,184.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 6,534 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $505.04, for a total value of $3,299,931.36. Following the transaction, the chief executive officer now directly owns 116,108 shares of the company’s stock, valued at $58,639,184.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 251,993 shares of company stock worth $133,271,982. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Down 0.1 %

Shares of NASDAQ:META opened at $567.16 on Friday. The company has a 50 day moving average price of $555.99 and a two-hundred day moving average price of $513.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.83 and a current ratio of 2.73. The company has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $308.33 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Analysts forecast that Meta Platforms, Inc. will post 21.84 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analysts Set New Price Targets

A number of brokerages recently commented on META. Evercore ISI upped their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Wolfe Research assumed coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price on the stock. Scotiabank cut their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

About Meta Platforms

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.