Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Increased by Assetmark Inc.

Assetmark Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 702,759 shares of the social networking company’s stock after acquiring an additional 104,140 shares during the quarter. Meta Platforms comprises approximately 1.1% of Assetmark Inc.’s holdings, making the stock its 18th largest position. Assetmark Inc.’s holdings in Meta Platforms were worth $402,287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. Capital World Investors boosted its stake in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital Research Global Investors grew its holdings in Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. GQG Partners LLC raised its position in Meta Platforms by 3.1% in 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. Finally, International Assets Investment Management LLC lifted its holdings in 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 valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. This represents a 0.00 % decrease in their position. The transaction 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 Meta Platforms stock in a transaction on Friday, August 16th. The shares were sold at an average price of $532.21, for a total value of $481,650.05. Following the completion of the transaction, the insider now owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 194,714 shares of company stock worth $103,811,069 over the last three months. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on META shares. 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 report on Thursday, October 31st. Monness Crespi & Hardt increased their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. DA Davidson began coverage on Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price on the stock. Guggenheim upped their target price on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, BMO Capital Markets lifted their price target on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $584.82 on Wednesday. Meta Platforms, Inc. has a one year low of $313.66 and a one year 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. The business has a fifty day simple moving average of $563.02 and a 200 day simple moving average of $517.29. The firm has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.30 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted 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. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

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.