Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.3% during the third quarter, Holdings Channel reports. The firm owned 948 shares of the social networking company’s stock after acquiring an additional 160 shares during the quarter. Princeton Capital Management LLC’s holdings in Meta Platforms were worth $543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Lindenwold Advisors INC increased its holdings in Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares during the last quarter. Central Valley Advisors LLC raised its holdings in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC boosted its position in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC lifted its holdings in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after purchasing an additional 18 shares during the period. Finally, Kozak & Associates Inc. boosted its holdings in shares of Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 620 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00. Following the sale, the chief operating officer now owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This trade represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,843 shares of company stock worth $92,083,554. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $563.09 on Friday. 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, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.24 and a beta of 1.22. The stock has a 50-day moving average price of $572.05 and a 200 day moving average price of $523.31.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 9.42%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on META. Susquehanna raised their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Scotiabank dropped their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. Finally, Truist Financial boosted 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $634.10.

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.