Bridges Investment Management Inc. Acquires 681 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bridges Investment Management Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,823 shares of the social networking company’s stock after acquiring an additional 681 shares during the period. Meta Platforms makes up 1.4% of Bridges Investment Management Inc.’s portfolio, making the stock its 21st largest holding. Bridges Investment Management Inc.’s holdings in Meta Platforms were worth $100,076,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased 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 acquiring an additional 44 shares during the period. Halpern Financial Inc. acquired a new position in Meta Platforms in the third quarter worth about $46,000. Finally, J.Safra Asset Management Corp acquired a new position in Meta Platforms in the first quarter worth about $47,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.3 %

Shares of NASDAQ:META opened at $584.82 on Wednesday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. 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 stock’s 50-day moving average is $563.02 and its 200 day moving average is $517.29. The company has a market cap of $1.48 trillion, a PE ratio of 27.55, a P/E/G ratio of 1.30 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 analyst estimates of $40.21 billion. Sell-side analysts anticipate 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 paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s payout ratio is 9.42%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $532.21, for a total value of $481,650.05. Following the sale, the insider now directly owns 41,437 shares of the company’s stock, valued at $22,053,185.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 sale, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the completion of the sale, the chief operating officer now directly owns 10,294 shares in the company, valued at approximately $5,842,668.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,714 shares of company stock worth $103,811,069. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on META. Mizuho upped their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Loop Capital lifted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Roth Mkm raised their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.