Jag Capital Management LLC Has $37.30 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Jag Capital Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,165 shares of the social networking company’s stock after purchasing an additional 6,833 shares during the quarter. Meta Platforms accounts for 4.5% of Jag Capital Management LLC’s portfolio, making the stock its 5th largest position. Jag Capital Management LLC’s holdings in Meta Platforms were worth $37,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. bought a new stake in Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, J.Safra Asset Management Corp acquired a new stake in Meta Platforms during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the transaction, the insider now owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,200 shares of company stock worth $84,533,106 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META 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 company’s 50 day moving average price is $565.83 and its two-hundred day moving average price is $518.72. The firm has a market cap of $1.46 trillion, a PE ratio of 27.19, a PEG ratio of 1.29 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.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business 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%. Equities research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is 9.42%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Raymond James boosted their price target on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

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.