Pure Portfolios Holdings LLC Buys Shares of 2,763 Meta Platforms, Inc. (NASDAQ:META)

Pure Portfolios Holdings LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,763 shares of the social networking company’s stock, valued at approximately $1,582,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors boosted its position in Meta Platforms by 14.5% in 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 purchasing an additional 4,379,826 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Sustainable Growth Advisers LP purchased a new position in shares of Meta Platforms in the second quarter worth approximately $595,152,000. Global Assets Advisory LLC bought a new stake in Meta Platforms during the first quarter valued at approximately $515,383,000. Finally, Vanguard Group Inc. increased its holdings in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total value of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares in the company, valued at approximately $19,641,281.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the completion of the transaction, the insider now directly owns 33,292 shares in the company, valued at approximately $19,641,281.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,911 shares of company stock worth $131,978,559. 13.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on META. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. JMP Securities lifted their price objective on Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research report on Thursday, September 26th. Loop Capital increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Wolfe Research initiated coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target on the stock. Finally, BMO Capital Markets upped their price target on shares of Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $617.37.

Meta Platforms Price Performance

META stock opened at $575.16 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The stock has a market cap of $1.46 trillion, a PE ratio of 33.04, a P/E/G ratio of 1.45 and a beta of 1.22. The company has a 50-day moving average price of $547.72 and a 200 day moving average price of $509.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the firm posted $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

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.