nVerses Capital LLC Purchases New Shares in Meta Platforms, Inc. (NASDAQ:META)

nVerses Capital LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 600 shares of the social networking company’s stock, valued at approximately $343,000.

Several other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its stake 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 worth $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. Jennison Associates LLC grew its stake in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Sustainable Growth Advisers LP bought a new stake in Meta Platforms during the 2nd quarter valued at $595,152,000. Global Assets Advisory LLC purchased a new stake in shares of Meta Platforms during the first quarter worth $515,383,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Meta Platforms by 0.4% in 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 acquiring an additional 831,047 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total transaction of $443,269.00. Following the completion of the sale, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00. Following the completion of the transaction, the insider now directly owns 35,130 shares in the company, valued at approximately $17,206,674. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,816 shares of company stock worth $132,421,828 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup raised their target price on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Evercore ISI increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Rosenblatt Securities boosted their price target 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. Raymond James increased their price objective on Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Guggenheim boosted their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $617.37.

Meta Platforms Stock Performance

Shares of META stock opened at $576.47 on Friday. The company’s fifty day moving average price is $546.53 and its 200-day moving average price is $508.68. The stock has a market cap of $1.46 trillion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the company earned $3.23 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. On average, equities analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Meta Platforms 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.