WIM INVESTMENT MANAGEMENT Ltd Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 2,600 shares of the social networking company’s stock, valued at approximately $1,488,000. Meta Platforms accounts for about 0.6% of WIM INVESTMENT MANAGEMENT Ltd’s investment portfolio, making the stock its 12th biggest position.

A number of other institutional investors have also recently made changes to their positions in the business. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth about $46,000. West Financial Advisors LLC purchased a new stake in Meta Platforms in the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC increased its holdings in Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.2 %

Shares of META opened at $561.09 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $570.23 and a 200 day moving average price of $522.73. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The firm has a market capitalization of $1.42 trillion, a P/E ratio of 26.43, a P/E/G ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly 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 business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 620 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00. Following the completion of the transaction, the chief operating officer now owns 19,992 shares in the company, valued at approximately $11,135,544. This represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,958 shares of company stock worth $101,181,747 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on META shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Citigroup upped their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt raised their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, TD Cowen boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target 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.