Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Beck Capital Management LLC

Beck Capital Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,191 shares of the social networking company’s stock after acquiring an additional 143 shares during the quarter. Meta Platforms makes up about 4.2% of Beck Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Beck Capital Management LLC’s holdings in Meta Platforms were worth $15,565,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Benjamin Edwards Inc. boosted its holdings in shares of Meta Platforms by 4,732.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 44,697 shares of the social networking company’s stock worth $25,586,000 after buying an additional 43,772 shares during the period. Atom Investors LP lifted its position in Meta Platforms by 25.9% during the third quarter. Atom Investors LP now owns 5,262 shares of the social networking company’s stock worth $3,012,000 after acquiring an additional 1,081 shares during the last quarter. Aureus Asset Management LLC boosted its holdings in shares of Meta Platforms by 8.3% during the third quarter. Aureus Asset Management LLC now owns 104,780 shares of the social networking company’s stock worth $59,980,000 after acquiring an additional 8,007 shares during the period. Avala Global LP grew its position in shares of Meta Platforms by 53.5% in the third quarter. Avala Global LP now owns 47,900 shares of the social networking company’s stock valued at $27,420,000 after purchasing an additional 16,700 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Meta Platforms during the third quarter worth approximately $26,163,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $520.57, for a total value of $214,995.41. Following the completion of the transaction, the chief operating officer now directly owns 13,185 shares in the company, valued at $6,863,715.45. The trade was a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the transaction, the insider now directly owns 37,790 shares in the company, valued at $21,362,687. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,239 shares of company stock valued at $59,681,541. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 0.9 %

Shares of Meta Platforms stock opened at $574.32 on Monday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.27 and a beta of 1.22. The company has a 50-day moving average of $575.21 and a 200 day moving average of $527.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JMP Securities boosted their price target on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Citigroup raised their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price target on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two equities research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $634.71.

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.