Catalyst Capital Advisors LLC Buys 1,708 Shares of Meta Platforms, Inc. (NASDAQ:META)

Catalyst Capital Advisors LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 24.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,563 shares of the social networking company’s stock after purchasing an additional 1,708 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Meta Platforms were worth $4,902,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of META. Delos Wealth Advisors LLC lifted its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC bought a new stake in Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Richardson Financial Services Inc. lifted its holdings in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the period. Finally, Halpern Financial Inc. bought a new stake in Meta Platforms during the third quarter worth $46,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial lifted their price target on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. DA Davidson initiated coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price on the stock. Roth Mkm boosted their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research note on Wednesday, October 16th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Trading Up 3.4 %

Shares of META stock opened at $591.70 on Friday. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $558.95 and a two-hundred day moving average price of $514.71. The firm has a market cap of $1.50 trillion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Equities analysts anticipate that Meta Platforms, Inc. will post 22.53 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity

In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares of the company’s stock, valued at $17,360,833.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 228,118 shares of company stock valued at $121,237,935. 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.