Elevated Capital Advisors LLC Purchases 743 Shares of Meta Platforms, Inc. (NASDAQ:META)

Elevated Capital Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 135.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,292 shares of the social networking company’s stock after purchasing an additional 743 shares during the period. Elevated Capital Advisors LLC’s holdings in Meta Platforms were worth $740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Pictet & Cie Europe AG lifted its position in Meta Platforms by 3.2% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 213,872 shares of the social networking company’s stock worth $122,429,000 after buying an additional 6,627 shares during the last quarter. Global X Japan Co. Ltd. grew its holdings in Meta Platforms by 19.7% in the 3rd quarter. Global X Japan Co. Ltd. now owns 56,055 shares of the social networking company’s stock worth $32,088,000 after acquiring an additional 9,219 shares during the last quarter. Weaver Capital Management LLC increased its holdings in Meta Platforms by 11.9% during the 3rd quarter. Weaver Capital Management LLC now owns 5,279 shares of the social networking company’s stock valued at $3,022,000 after purchasing an additional 560 shares during the period. Liberty Capital Management Inc. raised its holdings in shares of Meta Platforms by 10.3% during the third quarter. Liberty Capital Management Inc. now owns 1,327 shares of the social networking company’s stock valued at $760,000 after acquiring an additional 124 shares in the last quarter. Finally, Albert D Mason Inc. raised its holdings in Meta Platforms by 1.6% in the 3rd quarter. Albert D Mason Inc. now owns 3,440 shares of the social networking company’s stock worth $1,969,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on META shares. Morgan Stanley raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird increased their target price on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Piper Sandler lifted their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, TD Cowen raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $619.20.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,817 shares of company stock worth $132,547,715 over the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.7 %

Shares of NASDAQ META opened at $567.78 on Friday. The stock has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.61, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $549.53 and its 200-day moving average price is $509.99.

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

Meta Platforms Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

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.