Tandem Capital Management Corp ADV Has $5.84 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Tandem Capital Management Corp ADV decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,201 shares of the social networking company’s stock after selling 107 shares during the period. Meta Platforms comprises 3.2% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 6th largest holding. Tandem Capital Management Corp ADV’s holdings in Meta Platforms were worth $5,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. International Assets Investment Management LLC grew its holdings in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the period. Capital Research Global Investors grew its stake in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Jennison Associates LLC increased its position in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms during the 2nd quarter valued at about $595,152,000. Finally, Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on META shares. Robert W. Baird upped their target price on shares of Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Rosenblatt Securities raised their target price on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Oppenheimer upped their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Tigress Financial raised their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Finally, Morgan Stanley upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $621.63.

Insider Activity

In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $521.48, for a total transaction of $214,849.76. Following the sale, the chief operating officer now owns 5,147 shares of the company’s stock, valued at $2,684,057.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $521.48, for a total value of $214,849.76. Following the transaction, the chief operating officer now directly owns 5,147 shares in the company, valued at approximately $2,684,057.56. The trade was 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 have sold 250,817 shares of company stock worth $132,547,715. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

META stock opened at $573.25 on Monday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The business has a 50-day moving average price of $551.05 and a 200 day moving average price of $510.65. The company has a market capitalization of $1.45 trillion, a P/E ratio of 29.26, a PEG ratio of 1.42 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the business posted $3.23 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 10.21%.

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.