Meta Platforms, Inc. $META Stake Raised by Ethic Inc.

Ethic Inc. raised its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 154,450 shares of the social networking company’s stock after buying an additional 1,304 shares during the period. Meta Platforms accounts for about 1.9% of Ethic Inc.’s portfolio, making the stock its 7th largest position. Ethic Inc.’s holdings in Meta Platforms were worth $113,425,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of META. Infusive Asset Management Inc. grew its position in shares of Meta Platforms by 10.7% in the first quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock valued at $13,614,000 after purchasing an additional 2,285 shares during the period. Spirepoint Private Client LLC lifted its position in Meta Platforms by 2.7% during the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after buying an additional 109 shares during the period. Diversify Advisory Services LLC boosted its stake in Meta Platforms by 10.4% in the 2nd quarter. Diversify Advisory Services LLC now owns 55,431 shares of the social networking company’s stock worth $43,790,000 after buying an additional 5,224 shares during the last quarter. CW Advisors LLC grew its holdings in Meta Platforms by 27.8% in the second quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock valued at $130,467,000 after purchasing an additional 38,432 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in Meta Platforms by 11.0% during the second quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock worth $155,387,000 after purchasing an additional 20,912 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 1.5%

Shares of NASDAQ:META opened at $650.41 on Friday. The company has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. The company has a 50 day moving average of $647.29 and a two-hundred day moving average of $705.02. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.03 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Meta Platforms’s dividend payout ratio is presently 9.28%.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays reduced their target price on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Piper Sandler decreased their target price on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Truist Financial dropped their target price on shares of Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Arete Research set a $718.00 price target on shares of Meta Platforms in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada decreased their price objective on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $822.22.

Read Our Latest Analysis on Meta Platforms

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $658.14, for a total transaction of $340,258.38. Following the completion of the sale, the chief operating officer owned 12,200 shares in the company, valued at $8,029,308. This trade represents a 4.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert M. Kimmitt sold 580 shares of Meta Platforms stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $646.00, for a total value of $374,680.00. Following the sale, the director owned 6,167 shares in the company, valued at $3,983,882. This represents a 8.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,074 shares of company stock worth $26,269,739 over the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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