Spirit of America Management Corp NY Purchases 150 Shares of Meta Platforms, Inc. (NASDAQ:META)

Spirit of America Management Corp NY boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 20.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 875 shares of the social networking company’s stock after buying an additional 150 shares during the period. Spirit of America Management Corp NY’s holdings in Meta Platforms were worth $501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of META. Occidental Asset Management LLC lifted its position in shares of Meta Platforms by 14.8% during the 1st quarter. Occidental Asset Management LLC now owns 25,800 shares of the social networking company’s stock valued at $12,528,000 after acquiring an additional 3,327 shares during the period. Hodges Capital Management Inc. lifted its position in shares of Meta Platforms by 2.5% during the 1st quarter. Hodges Capital Management Inc. now owns 7,981 shares of the social networking company’s stock valued at $3,876,000 after acquiring an additional 192 shares during the period. First Dallas Securities Inc. lifted its position in shares of Meta Platforms by 1.0% during the 1st quarter. First Dallas Securities Inc. now owns 8,286 shares of the social networking company’s stock valued at $4,024,000 after acquiring an additional 80 shares during the period. Trust Co. of Virginia VA bought a new stake in shares of Meta Platforms during the 1st quarter valued at $242,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Meta Platforms by 49.3% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 8,151 shares of the social networking company’s stock worth $3,958,000 after buying an additional 2,692 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 1.0 %

Shares of NASDAQ:META opened at $573.25 on Monday. The business’s 50 day simple moving average is $551.05 and its two-hundred day simple moving average is $510.65. The firm has a market cap of $1.45 trillion, a P/E ratio of 29.26, a PEG ratio of 1.42 and a beta of 1.22. 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, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.23 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is currently 10.21%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Oppenheimer boosted their price target on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. DA Davidson assumed coverage on Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target for the company. Jefferies Financial Group boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. BMO Capital Markets boosted their price target on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a report on Wednesday, October 9th. Finally, Citigroup boosted their price target on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $621.63.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the sale, the chief operating officer now directly owns 5,147 shares of the company’s stock, valued at $2,684,057.56. This 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 through this hyperlink. In other news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. This 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 through this hyperlink. Also, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the sale, the chief operating officer now directly owns 5,147 shares of the company’s stock, valued at approximately $2,684,057.56. This trade 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 250,817 shares of company stock worth $132,547,715. Corporate insiders own 13.71% of the company’s stock.

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.