Custom Index Systems LLC Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Custom Index Systems LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,141 shares of the social networking company’s stock after buying an additional 60 shares during the quarter. Meta Platforms comprises about 1.0% of Custom Index Systems LLC’s portfolio, making the stock its 21st biggest holding. Custom Index Systems LLC’s holdings in Meta Platforms were worth $1,798,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Delos Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the second quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its holdings 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 valued at $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms in the third quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at about $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Oppenheimer upped their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Citigroup upped their target price on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Roth Mkm upped their target price on shares of Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Piper Sandler upped their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Susquehanna upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $621.63.

Insider Activity

In other news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the transaction, the chief operating officer now directly owns 10,707 shares in the company, valued at $6,147,531.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,818 shares of company stock valued at $132,569,993 in the last ninety days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $591.80 on Thursday. The firm’s fifty day simple moving average is $554.49 and its 200-day simple moving average is $512.18. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 33.99, a PEG ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $296.86 and a 12 month high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s payout ratio is 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.