Forbes J M & Co. LLP Has $6.43 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Forbes J M & Co. LLP raised its position in Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 11,231 shares of the social networking company’s stock after acquiring an additional 137 shares during the period. Forbes J M & Co. LLP’s holdings in Meta Platforms were worth $6,429,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Valley Advisors LLC boosted its holdings in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC raised its position in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its stake in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after acquiring an additional 18 shares during the last quarter. Kozak & Associates Inc. grew its position in shares of Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on META shares. Deutsche Bank Aktiengesellschaft increased their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Scotiabank started coverage on Meta Platforms in a report on Friday, October 11th. They issued a “sector perform” rating and a $585.00 price objective for the company. Citigroup upped their price objective on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. TD Securities lifted their target price on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Finally, Robert W. Baird upped their price target on shares of Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued 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 price target of $621.63.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $591.80 on Thursday. 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 $296.86 and a 52-week high of $602.95. The company has a fifty day moving average of $554.49 and a 200-day moving average of $512.18. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22.

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

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the sale, the chief operating officer now owns 10,707 shares in the company, valued at approximately $6,147,531.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the transaction, the chief operating officer now directly owns 10,707 shares of the company’s stock, valued at $6,147,531.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 250,818 shares of company stock worth $132,569,993 in the last ninety days. 13.71% of the stock is owned by insiders.

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.