Migdal Insurance & Financial Holdings Ltd. Sells 128,653 Shares of Meta Platforms, Inc. (NASDAQ:META)

Migdal Insurance & Financial Holdings Ltd. lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 97.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,297 shares of the social networking company’s stock after selling 128,653 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Meta Platforms were worth $1,887,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in META. Delos Wealth Advisors LLC lifted 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 purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter valued at approximately $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms during the third quarter worth approximately $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction 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 directly owns 41,437 shares in the company, valued at $22,053,185.77. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,807 shares of company stock valued at $93,851,617 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Jefferies Financial Group upped their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JMP Securities lifted their target price on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Truist Financial upped their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Robert W. Baird increased their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Price Performance

META stock opened at $580.00 on Thursday. The stock’s 50 day moving average price is $564.48 and its 200 day moving average price is $518.29. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a market cap of $1.46 trillion, a P/E ratio of 27.32, a PEG ratio of 1.29 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

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, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts expect 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. 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 dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

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.