Beese Fulmer Investment Management Inc. Has $19.75 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Beese Fulmer Investment Management Inc. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,505 shares of the social networking company’s stock after purchasing an additional 371 shares during the period. Meta Platforms makes up 1.7% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Meta Platforms were worth $19,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Meta Platforms by 430.8% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 276 shares of the social networking company’s stock worth $158,000 after purchasing an additional 224 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Meta Platforms by 29.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,880 shares of the social networking company’s stock worth $7,945,000 after buying an additional 3,144 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Meta Platforms in the third quarter valued at $1,610,000. X Square Capital LLC grew its holdings in shares of Meta Platforms by 2.2% during the third quarter. X Square Capital LLC now owns 10,510 shares of the social networking company’s stock valued at $6,016,000 after buying an additional 224 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. increased its position in shares of Meta Platforms by 12.3% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 1,338 shares of the social networking company’s stock worth $766,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.0 %

Shares of NASDAQ META opened at $573.25 on Friday. 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 business has a 50-day moving average of $551.05 and a 200-day moving average of $510.72. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 29.26, a PEG ratio of 1.42 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.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.23 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared 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 dividend payout ratio (DPR) is currently 10.21%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, 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 filing with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. This trade 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 250,817 shares of company stock worth $132,547,715. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on META shares. JMP Securities raised their price target on shares of Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research report on Thursday, September 26th. Bank of America upped their price target on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Finally, DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $621.63.

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.