Mach 1 Financial Group LLC Has $1.15 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Mach 1 Financial Group LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,016 shares of the social networking company’s stock after purchasing an additional 132 shares during the period. Meta Platforms accounts for about 0.7% of Mach 1 Financial Group LLC’s investment portfolio, making the stock its 23rd biggest holding. Mach 1 Financial Group LLC’s holdings in Meta Platforms were worth $1,154,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LS Investment Advisors LLC boosted its holdings in shares of Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after buying an additional 6,155 shares during the period. Gradient Investments LLC boosted its holdings in Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares during the period. Cutter & CO Brokerage Inc. boosted its holdings in Meta Platforms by 0.7% during the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after acquiring an additional 65 shares during the period. Stanley Laman Group Ltd. grew its position in shares of Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after purchasing an additional 352 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Meta Platforms by 1.4% in the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after purchasing an additional 5,594 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wolfe Research initiated coverage on Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price on the stock. Piper Sandler boosted their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Scotiabank cut their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Price Performance

Shares of META stock opened at $584.82 on Wednesday. The firm’s 50 day moving average price is $563.02 and its two-hundred day moving average price is $517.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The stock has a market cap of $1.48 trillion, a PE ratio of 27.55, a PEG ratio of 1.30 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 (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. 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%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $529.09, for a total value of $8,836,861.18. Following the completion of the transaction, the chief executive officer now owns 55,019 shares of the company’s stock, valued at $29,110,002.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $529.09, for a total transaction of $8,836,861.18. Following the transaction, the chief executive officer now owns 55,019 shares in the company, valued at $29,110,002.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,714 shares of company stock worth $103,811,069. 13.71% of the stock is currently owned by company insiders.

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.