Retireful LLC Invests $844,000 in Meta Platforms, Inc. (NASDAQ:META)

Retireful LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,474 shares of the social networking company’s stock, valued at approximately $844,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. EULAV Asset Management boosted its holdings in Meta Platforms by 1.3% in the 3rd quarter. EULAV Asset Management now owns 80,018 shares of the social networking company’s stock valued at $45,806,000 after purchasing an additional 1,001 shares during the last quarter. Howe & Rusling Inc. raised its position in shares of Meta Platforms by 3.5% during the 3rd quarter. Howe & Rusling Inc. now owns 40,637 shares of the social networking company’s stock valued at $23,262,000 after buying an additional 1,371 shares during the period. NS Partners Ltd lifted its holdings in Meta Platforms by 2.2% in the third quarter. NS Partners Ltd now owns 166,204 shares of the social networking company’s stock valued at $95,142,000 after acquiring an additional 3,622 shares during the last quarter. Kirtland Hills Capital Management LLC grew its position in Meta Platforms by 6.9% in the third quarter. Kirtland Hills Capital Management LLC now owns 4,433 shares of the social networking company’s stock worth $2,537,000 after acquiring an additional 286 shares during the period. Finally, Jennison Associates LLC raised its position in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on META. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial raised their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Loop Capital boosted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Trading Down 0.7 %

Shares of Meta Platforms stock opened at $559.14 on Friday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a 50 day moving average price of $572.74 and a 200 day moving average price of $523.96. The company has a market capitalization of $1.41 trillion, a P/E ratio of 26.34, a P/E/G ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 return on equity of 35.60% and a net margin of 35.55%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction 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. This represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold a total of 168,843 shares of company stock valued at $92,083,554 over the last 90 days. Insiders own 13.71% of the company’s stock.

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.