California PrimeCap Management Company increased its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). decreased by 24.4%. The institutional investor owned 668,925 shares of the social networking company’s stock after selling an additional 215,700 shares during the same quarter. Primecap Management Co. CA’s Meta Platform holdings were valued at $208,180,000 at the end of the most recent reporting period.
Many other large investors have also increased or decreased their stakes in the stock. Parkside Financial Bank & Trust grew its position in MetaPlatform by 9.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 4,716 shares of the social networking company’s stock valued at $1,416,000 after purchasing an additional 416 shares in the last quarter. Pegasus Partners Ltd. grew its holdings in shares of Meta Platforms by 12.1% in the 3rd quarter. Pegasus Partners Ltd. now owns 1,700 shares of the social networking company’s stock valued at $510,000 after purchasing an additional 184 shares in the last quarter. Bay Colony Advisory Group Inc’s dba Bay Colony Advisors increased his holdings in shares of Metaplatform by 13.4% in the 3rd quarter. Bay Colony Advisory Group Inc’s dba Bay Colony Advisors now owns 3,639 shares of the social networking company’s stock valued at $1,092,000 after purchasing an additional 429 shares in the last quarter. Private Capital Advisors Inc. increased its holdings in shares of Meta Platforms by 0.5% in the 3rd quarter. Private Capital Advisors Inc. now owns 27,548 shares of the social networking company’s stock valued at $8,299,000 after purchasing an additional 128 shares in the last quarter. Finally, Sioux City, Iowa-based Security National Bank acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at $310,000. Institutional investors and hedge funds own 62.87% of the company’s stock.
Metaplatform stock price performance
META stock opened at $484.03 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67, and a quick ratio of 2.67. The stock’s 50-day moving average is $400.90 and its 200-day moving average is $343.02. The company has a market capitalization of $1.23 trillion, a P/E ratio of 32.49x, a P/E ratio of 1.25x, and a beta of 1.15x. Meta Platforms, Inc. has a 1-year low of $167.66 and a 1-year high of $494.36.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net profit margin of 28.98%. The company’s revenue for the quarter increased 24.7% compared to the same period last year. In the year-ago period, the business had EPS of $3.00. On average, equities research analysts predict that Meta Platforms, Inc. will post 19.78 EPS for the current fiscal year.
Metaplatform dividend announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, February 21st. This equates to his $2.00 dividend and his 0.41% yield on an annualized basis. Meta Platforms’ dividend payout ratio (DPR) is currently 13.42%.
Analyst rating changes
META has been the subject of many research and analysis reports. Sanford C. Bernstein increased their price objective on MetaPlatform from $435.00 to $535.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. TD Cowen increased their price objective on MetaPlatform from $415.00 to his $500.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. BMO Capital Markets increased their target price on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Wedbush increased their target price on MetaPlatform from $420.00 to $520.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Bank of America increased their target price on MetaPlatform from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. 2 investment analysts have rated the stock with a sell rating, 2 have rated it a hold, 40 have rated it a buy, and 2 have rated the stock with a strong buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $494.53.
Read our latest analysis for META
Insider buying and selling on Meta Platform
In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total transaction of $45,253,105.44. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be viewed on the SEC’s website. In other news, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total value of $45,253,105.44. The sale was disclosed in his SEC filing, which can be accessed through this hyperlink. Also, insider Jennifer Newsted sold 585 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $469.88, for a total value of $274,879.80. Following the completion of the transaction, the insider now owns 42,493 shares of the company’s stock, valued at approximately $19,966,610.84. Disclosures regarding this sale can be found here. Insiders sold 1,047,764 shares of company stock valued at $414,647,143 in the last quarter. Insiders own 13.75% of the company’s shares.
Metaplatform company profile
(Free report)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables around the world. The company operates in two segments: Family of Apps and Reality Labs. The Family of Apps segment powers Facebook, where people can share, discuss, discover, and connect about what interests them. Community for sharing Instagram, photos, videos, private messages, feeds, stories, reels, videos, live, shop. Messenger is a messaging application that lets people connect with friends, family, communities, and businesses across platforms and devices through text, voice, and video calls. WhatsApp is a messaging application used by people and businesses to conduct private communications and transactions.
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Curious if other hedge funds own META? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Meta Platforms, Inc. (NASDAQ:META – Free Report).
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