Financial Security Advisor Inc. Acquires 54 Shares of Meta Platforms, Inc. (NASDAQ:META)

Financial Security Advisor Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,177 shares of the social networking company’s stock after acquiring an additional 54 shares during the quarter. Financial Security Advisor Inc.’s holdings in Meta Platforms were worth $1,246,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in shares of Meta Platforms by 57,001.5% in 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. Capital Research Global Investors lifted its position in 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 worth $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Sustainable Growth Advisers LP bought a new position in Meta Platforms during the second quarter valued at approximately $595,152,000. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Meta Platforms by 30.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after purchasing an additional 788,131 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Tigress Financial raised their price objective on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Piper Sandler lifted their price target on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. KeyCorp increased their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, Loop Capital increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction dated 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 directly owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the 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 transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 228,118 shares of company stock valued at $121,237,935. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.4 %

Shares of NASDAQ:META opened at $589.34 on Friday. The stock has a 50 day moving average of $560.42 and a 200 day moving average of $515.25. The company has a market cap of $1.49 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS 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 the consensus estimate of $40.21 billion. As a group, equities research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is 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.