Meta Platforms, Inc. (NASDAQ:META) Position Boosted by Altman Advisors Inc.

Altman Advisors Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,725 shares of the social networking company’s stock after acquiring an additional 64 shares during the quarter. Meta Platforms accounts for about 1.7% of Altman Advisors Inc.’s holdings, making the stock its 10th largest position. Altman Advisors Inc.’s holdings in Meta Platforms were worth $3,850,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. POM Investment Strategies LLC purchased a new position in Meta Platforms in the second quarter valued at about $38,000. Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the third quarter valued at approximately $46,000. West Financial Advisors LLC bought a new position in Meta Platforms during the third quarter valued at $49,000. Finally, NewSquare Capital LLC increased its position in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying an additional 71 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Down 0.7 %

META stock opened at $559.14 on Friday. The company has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company’s 50 day moving average price is $572.74 and its two-hundred day moving average price is $523.96.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for 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%. As a group, analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analysts Set New Price Targets

META has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Morgan Stanley lifted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Loop Capital upped their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Bank of America lifted their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Insider Activity at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 7,975 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total transaction of $4,117,971.00. Following the completion of the sale, the chief executive officer now directly owns 531,884 shares in the company, valued at approximately $274,643,622.24. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,843 shares of company stock worth $92,083,554 in the last ninety days. 13.71% of the stock is owned by company insiders.

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.