Jaffetilchin Investment Partners LLC Buys 566 Shares of Meta Platforms, Inc. (NASDAQ:META)

Jaffetilchin Investment Partners LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,822 shares of the social networking company’s stock after acquiring an additional 566 shares during the period. Meta Platforms accounts for about 1.4% of Jaffetilchin Investment Partners LLC’s portfolio, making the stock its 18th biggest position. Jaffetilchin Investment Partners LLC’s holdings in Meta Platforms were worth $18,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of META. Core Wealth Partners LLC increased its position in Meta Platforms by 24.1% during the 3rd quarter. Core Wealth Partners LLC now owns 1,619 shares of the social networking company’s stock worth $927,000 after purchasing an additional 314 shares in the last quarter. Jag Capital Management LLC grew its stake in Meta Platforms by 11.7% during the third quarter. Jag Capital Management LLC now owns 65,165 shares of the social networking company’s stock worth $37,303,000 after purchasing an additional 6,833 shares during the period. Delta Financial Advisors LLC increased its holdings in Meta Platforms by 4.2% in the third quarter. Delta Financial Advisors LLC now owns 4,491 shares of the social networking company’s stock worth $2,571,000 after purchasing an additional 181 shares in the last quarter. Addison Advisors LLC lifted its stake in Meta Platforms by 8.7% in the third quarter. Addison Advisors LLC now owns 908 shares of the social networking company’s stock valued at $520,000 after buying an additional 73 shares during the period. Finally, GDS Wealth Management boosted its holdings in shares of Meta Platforms by 7.8% during the 3rd quarter. GDS Wealth Management now owns 24,910 shares of the social networking company’s stock worth $14,259,000 after buying an additional 1,803 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen 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 Thursday, October 17th. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Pivotal Research boosted their target price on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt increased their price target on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Truist Financial boosted their price objective on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two research 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 given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Performance

Shares of META stock opened at $577.16 on Friday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 27.19, a PEG ratio of 1.29 and a beta of 1.22. 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 firm’s 50 day moving average is $565.83 and its 200 day moving average is $518.72.

Meta Platforms (NASDAQ:META) last posted its 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 firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the sale, the insider now directly owns 338,662 shares in the company, valued at $188,810,838.24. This represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,200 shares of company stock valued at $84,533,106. 13.71% of the stock is currently owned by corporate 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.