Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 83,538 shares of the social networking company’s stock after selling 2,094 shares during the period. Meta Platforms accounts for about 3.2% of Meeder Asset Management Inc.’s portfolio, making the stock its 7th largest position. Meeder Asset Management Inc.’s holdings in Meta Platforms were worth $47,820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. acquired a new position in Meta Platforms during the third quarter valued at approximately $46,000. West Financial Advisors LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $49,000. Finally, NewSquare Capital LLC increased its position in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after buying an additional 71 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Jefferies Financial Group raised their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. TD Cowen boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Scotiabank dropped their price objective 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. Finally, Susquehanna raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Two equities research 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 given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Stock Down 0.4 %

Shares of NASDAQ META opened at $563.09 on Friday. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The firm has a 50 day moving average price of $572.05 and a 200 day moving average price of $523.31. The stock has a market cap of $1.42 trillion, a P/E ratio of 26.52, a P/E/G ratio of 1.24 and a beta of 1.22. 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 (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating 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%. 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 given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 14,746 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.53, for a total transaction of $8,162,353.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,843 shares of company stock valued at $92,083,554 in the last 90 days. 13.71% of the stock is currently owned by insiders.

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.