1,157 Shares in Meta Platforms, Inc. $META Bought by Abbot Financial Management Inc.

Abbot Financial Management Inc. purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,157 shares of the social networking company’s stock, valued at approximately $854,000.

A number of other hedge funds have also recently bought and sold shares of META. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Meta Platforms by 0.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock worth $2,587,000 after purchasing an additional 13 shares during the last quarter. Pachira Investments Inc. lifted its position in shares of Meta Platforms by 3.0% during the 2nd quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock worth $360,000 after buying an additional 14 shares in the last quarter. Hemington Wealth Management boosted its stake in shares of Meta Platforms by 0.6% in the 2nd quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock worth $1,641,000 after buying an additional 14 shares during the last quarter. Vista Capital Partners Inc. grew its holdings in shares of Meta Platforms by 1.3% in the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after acquiring an additional 14 shares in the last quarter. Finally, Myecfo LLC increased its position in shares of Meta Platforms by 2.0% during the second quarter. Myecfo LLC now owns 776 shares of the social networking company’s stock valued at $573,000 after acquiring an additional 15 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $644.23 on Friday. The firm has a market capitalization of $1.62 trillion, a PE ratio of 28.46, a P/E/G ratio of 1.37 and a beta of 1.28. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $665.92 and a two-hundred day moving average price of $706.78. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The company had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. Meta Platforms’s revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the company posted $6.03 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is presently 9.28%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $664.16, for a total value of $344,699.04. Following the completion of the transaction, the insider owned 30,215 shares in the company, valued at $20,067,594.40. This trade represents a 1.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the transaction, the chief technology officer directly owned 2,415 shares of the company’s stock, valued at $1,432,843.65. The trade was a 82.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 41,959 shares of company stock worth $26,578,191. Insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of several research analyst reports. Citizens Jmp reissued an “outperform” rating and issued a $900.00 price objective (up previously from $750.00) on shares of Meta Platforms in a research report on Monday, November 24th. BNP Paribas assumed coverage on Meta Platforms in a research note on Monday, November 24th. They set an “outperform” rating and a $800.00 target price on the stock. Roth Capital restated a “buy” rating on shares of Meta Platforms in a research report on Thursday, October 30th. UBS Group raised their price objective on shares of Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Citigroup reiterated a “buy” rating on shares of Meta Platforms in a research note on Thursday, December 4th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $819.46.

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.