Meta Platforms, Inc. $META Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. grew its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.1% in the third quarter, Holdings Channel reports. The institutional investor owned 51,026 shares of the social networking company’s stock after acquiring an additional 2,026 shares during the quarter. Meta Platforms accounts for 1.4% of Pittenger & Anderson Inc.’s holdings, making the stock its 15th largest holding. Pittenger & Anderson Inc.’s holdings in Meta Platforms were worth $37,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in META. Goldstone Financial Group LLC increased its position in shares of Meta Platforms by 44.4% during the third quarter. Goldstone Financial Group LLC now owns 3,752 shares of the social networking company’s stock worth $2,756,000 after purchasing an additional 1,153 shares in the last quarter. CW Advisors LLC boosted its stake in Meta Platforms by 27.8% during the 2nd quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock worth $130,467,000 after purchasing an additional 38,432 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of 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 buying an additional 20,912 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of Meta Platforms by 5.6% during the second quarter. Stephens Inc. AR now owns 84,687 shares of the social networking company’s stock worth $62,507,000 after buying an additional 4,473 shares in the last quarter. Finally, Motiv8 Investments LLC lifted its stake in shares of Meta Platforms by 11.5% in the second quarter. Motiv8 Investments LLC now owns 2,080 shares of the social networking company’s stock worth $1,535,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $658.69, for a total transaction of $341,860.11. Following the sale, the insider owned 28,658 shares in the company, valued at $18,876,738.02. This represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $714.60, for a total value of $369,448.20. Following the completion of the transaction, the chief operating officer owned 9,615 shares of the company’s stock, valued at $6,870,879. The trade was a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 39,594 shares of company stock valued at $24,325,407. 13.61% of the stock is currently owned by company insiders.

Key Meta Platforms News

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on META shares. Pivotal Research lowered their target price on Meta Platforms from $930.00 to $910.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Benchmark lowered Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, October 30th. Rosenblatt Securities raised their target price on Meta Platforms from $1,117.00 to $1,144.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Scotiabank boosted their price target on shares of Meta Platforms from $685.00 to $700.00 and gave the company a “sector perform” rating in a research report on Thursday, January 29th. Finally, Roth Mkm dropped their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a report on Monday, January 26th. Four equities research analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $847.40.

Get Our Latest Analysis on Meta Platforms

Meta Platforms Stock Down 1.3%

NASDAQ:META opened at $661.46 on Friday. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The stock’s fifty day moving average is $656.76 and its two-hundred day moving average is $695.12. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.28. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating the consensus estimate of $8.16 by $0.72. The company had revenue of $59.89 billion during the quarter, compared to the consensus estimate of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.Meta Platforms’s revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company posted $8.02 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were paid a $0.525 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s payout ratio is 8.94%.

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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