Meta Platforms, Inc. (NASDAQ:META) is Catalina Capital Group LLC’s 8th Largest Position

Catalina Capital Group LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 12.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,438 shares of the social networking company’s stock after acquiring an additional 1,145 shares during the quarter. Meta Platforms comprises approximately 2.0% of Catalina Capital Group LLC’s holdings, making the stock its 8th biggest position. Catalina Capital Group LLC’s holdings in Meta Platforms were worth $5,975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of META. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the period. Finally, Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter worth $46,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ:META opened at $589.34 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The stock has a market cap of $1.49 trillion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The firm’s fifty day simple moving average is $560.42 and its 200 day simple moving average is $515.25.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the sale, the insider now owns 41,437 shares in the company, valued at approximately $22,053,185.77. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the completion of the transaction, the chief operating officer now directly owns 10,294 shares in the company, valued at approximately $5,842,668.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total value of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,118 shares of company stock worth $121,237,935. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on META shares. Robert W. Baird boosted their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Guggenheim upped their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Oppenheimer lifted their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Roth Mkm increased their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

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.