Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Raised by Amalgamated Bank

Amalgamated Bank lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 486,692 shares of the social networking company’s stock after purchasing an additional 16,191 shares during the quarter. Meta Platforms accounts for about 2.3% of Amalgamated Bank’s holdings, making the stock its 5th largest holding. Amalgamated Bank’s holdings in Meta Platforms were worth $278,602,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its position in Meta Platforms by 48.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after buying an additional 16,138 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in Meta Platforms by 45.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 347,378 shares of the social networking company’s stock valued at $168,624,000 after acquiring an additional 108,555 shares during the period. Central Pacific Bank Trust Division bought a new position in Meta Platforms during the 1st quarter worth approximately $8,877,000. Proficio Capital Partners LLC increased its stake in Meta Platforms by 6.3% in the 1st quarter. Proficio Capital Partners LLC now owns 9,561 shares of the social networking company’s stock worth $4,642,000 after purchasing an additional 566 shares during the period. Finally, Peoples Bank OH lifted its position in Meta Platforms by 1.2% in the first quarter. Peoples Bank OH now owns 3,674 shares of the social networking company’s stock valued at $1,784,000 after purchasing an additional 42 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total value of $8,827,174.02. Following the completion of the sale, the chief executive officer now owns 72,473 shares of the company’s stock, valued at $38,302,705.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the sale, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the transaction, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,118 shares of company stock worth $121,237,935. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 3.4 %

Meta Platforms stock opened at $591.70 on Friday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The business’s fifty day moving average is $558.95 and its 200 day moving average is $514.71. The stock has a market capitalization of $1.50 trillion, a PE ratio of 27.87, 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 current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on META shares. Pivotal Research lifted their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Truist Financial raised their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. 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. Finally, Sanford C. Bernstein lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.