Capital Performance Advisors LLP Increases Position in Meta Platforms, Inc. (NASDAQ:META)

Capital Performance Advisors LLP lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,131 shares of the social networking company’s stock after buying an additional 472 shares during the quarter. Meta Platforms makes up 0.9% of Capital Performance Advisors LLP’s holdings, making the stock its 16th largest holding. Capital Performance Advisors LLP’s holdings in Meta Platforms were worth $2,937,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Central Valley Advisors LLC boosted its stake in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares during the period. Cherrydale Wealth Management LLC lifted its stake in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC boosted its position in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after buying an additional 18 shares during the period. Kozak & Associates Inc. raised its holdings in shares of Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after acquiring an additional 18 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $583.17 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company’s fifty day moving average price is $563.02 and its 200-day moving average price is $517.29. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The firm has a market capitalization of $1.47 trillion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.30 and a beta of 1.22.

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

Meta Platforms Announces Dividend

The firm also recently declared 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. 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 is presently 9.42%.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. 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 211,416 shares of company stock worth $112,638,243. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial increased 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. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. 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. Morgan Stanley raised their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Scotiabank decreased their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

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.