Avala Global LP Has $27.42 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Avala Global LP increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 53.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,900 shares of the social networking company’s stock after purchasing an additional 16,700 shares during the period. Meta Platforms makes up 1.8% of Avala Global LP’s portfolio, making the stock its 24th biggest position. Avala Global LP’s holdings in Meta Platforms were worth $27,420,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Jennison Associates LLC lifted its holdings in shares of Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after purchasing an additional 208,677 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Meta Platforms by 4.6% during the 3rd quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock worth $3,758,146,000 after acquiring an additional 289,207 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on META shares. Piper Sandler boosted their price target on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. KeyCorp boosted their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. BMO Capital Markets increased their price target on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, Citigroup upped their target price on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Insider Buying and Selling at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,239 shares of company stock worth $59,681,541. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $574.32 on Monday. 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 stock’s fifty day simple moving average is $575.21 and its two-hundred day simple moving average is $527.76. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The stock has a market cap of $1.45 trillion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.27 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed 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. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

About Meta Platforms

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.