AMI Investment Management Inc. Sells 163 Shares of Meta Platforms, Inc. (NASDAQ:META)

AMI Investment Management Inc. decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,548 shares of the social networking company’s stock after selling 163 shares during the period. Meta Platforms comprises approximately 1.9% of AMI Investment Management Inc.’s portfolio, making the stock its 15th biggest holding. AMI Investment Management Inc.’s holdings in Meta Platforms were worth $5,466,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. S.A. Mason LLC lifted its position in Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares during the period. Front Row Advisors LLC lifted its position in Meta Platforms by 5.7% during the 2nd quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock valued at $187,000 after acquiring an additional 20 shares during the period. Horizon Bancorp Inc. IN boosted its stake in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares in the last quarter. Northern Capital Management Inc. grew its holdings in Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after purchasing an additional 21 shares during the period. Finally, Buckingham Capital Management Inc. lifted its holdings in shares of Meta Platforms by 5.1% during the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after purchasing an additional 21 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on META. Pivotal Research started coverage on Meta Platforms in a research note on Tuesday. They issued a “buy” rating and a $780.00 price target on the stock. Morgan Stanley raised their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Loop Capital upped their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $598.08.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $13.17 during midday trading on Friday, reaching $595.94. The stock had a trading volume of 14,170,546 shares, compared to its average volume of 15,523,651. The company has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $596.85. The stock has a 50-day moving average of $524.47 and a 200-day moving average of $501.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the business posted $3.23 EPS. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $578.55, for a total transaction of $523,587.75. Following the completion of the transaction, the insider now owns 35,102 shares of the company’s stock, valued at $20,308,262.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total transaction of $523,587.75. Following the sale, the insider now directly owns 35,102 shares of the company’s stock, valued at $20,308,262.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total value of $8,916,696.74. Following the transaction, the chief executive officer now owns 151,918 shares of the company’s stock, valued at $81,104,462.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 300,228 shares of company stock valued at $158,005,260. 13.71% of the stock is currently owned by corporate insiders.

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.