Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Geneva Partners LLC

Geneva Partners LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,547 shares of the social networking company’s stock after acquiring an additional 2,382 shares during the quarter. Meta Platforms accounts for 4.3% of Geneva Partners LLC’s portfolio, making the stock its 7th largest position. Geneva Partners LLC’s holdings in Meta Platforms were worth $10,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Meta Platforms by 0.4% during the first 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 last quarter. Capital World Investors lifted its position in Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital Research Global Investors increased its position in shares of Meta Platforms by 14.5% in the first 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 acquiring an additional 4,379,826 shares during the last quarter. GQG Partners LLC boosted its position in Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in 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 valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. DA Davidson assumed coverage on Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research report on Wednesday, October 16th. Stifel Nicolaus raised their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Scotiabank lowered their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Trading Down 0.4 %

META opened at $589.34 on Friday. The company has a market cap of $1.49 trillion, a P/E ratio of 27.76, a PEG ratio of 1.24 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $560.42 and its 200-day moving average is $515.25. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced 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 was Monday, September 16th. This represents a $2.00 annualized dividend and a 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 901 shares of Meta Platforms stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the transaction, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. The trade was 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 accessible through the SEC website. In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the sale, the insider now directly owns 30,581 shares in the company, valued at approximately $17,360,833.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,118 shares of company stock valued at $121,237,935 in the last ninety days. 13.71% of the stock is currently owned by insiders.

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.