Fountainhead AM LLC Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Fountainhead AM LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 11.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,437 shares of the social networking company’s stock after buying an additional 448 shares during the period. Meta Platforms comprises 0.5% of Fountainhead AM LLC’s holdings, making the stock its 29th biggest holding. Fountainhead AM LLC’s holdings in Meta Platforms were worth $2,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of META. China Universal Asset Management Co. Ltd. raised its position in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after buying an additional 16,138 shares during the last quarter. Empowered Funds LLC boosted its stake in Meta Platforms by 22.4% during the first quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock worth $32,629,000 after buying an additional 12,301 shares during the period. Cypress Asset Management Inc. TX boosted its stake in Meta Platforms by 541.8% during the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after buying an additional 3,224 shares during the period. Bell Investment Advisors Inc boosted its stake in shares of Meta Platforms by 2.4% in the first quarter. Bell Investment Advisors Inc now owns 1,345 shares of the social networking company’s stock valued at $653,000 after purchasing an additional 31 shares during the period. Finally, Constellation Investimentos e Participacoes Ltda purchased a new position in shares of Meta Platforms in the first quarter valued at approximately $631,000. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock valued at $84,533,106 over the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $577.16 on Friday. The firm has a market cap of $1.46 trillion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The firm’s 50 day simple moving average is $565.83 and its 200-day simple moving average is $518.72. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 9.42%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on META shares. Wedbush reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Robert W. Baird upped their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Guggenheim raised their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

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.