Arcadia Investment Management Corp MI Purchases 1,977 Shares of Meta Platforms, Inc. (NASDAQ:META)

Arcadia Investment Management Corp MI raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 223.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,860 shares of the social networking company’s stock after acquiring an additional 1,977 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Meta Platforms were worth $1,637,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of META. Vanguard Group Inc. grew its stake in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the period. Capital World Investors grew its position in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares during the period. Capital Research Global Investors increased its stake in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Finally, GQG Partners LLC boosted its stake in Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after acquiring an additional 342,742 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on META. Bank of America upped their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Piper Sandler boosted their price objective on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Oppenheimer upped their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Price Performance

NASDAQ META opened at $572.43 on Wednesday. The company has a market cap of $1.45 trillion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm’s 50-day simple moving average is $556.78 and its two-hundred day simple moving average is $513.67. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Research analysts predict that Meta Platforms, Inc. will post 22.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at $19,197,043.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the transaction, the chief executive officer now directly owns 98,654 shares in the company, valued at approximately $50,618,380.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,919 shares of company stock worth $129,296,067 in the last quarter. 13.71% of the stock is owned by company insiders.

Meta Platforms Company 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.