Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Meyer Handelman Co.

by · The Cerbat Gem

Meyer Handelman Co. boosted its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 56,694 shares of the social networking company’s stock after purchasing an additional 1,870 shares during the period. Meyer Handelman Co.’s holdings in Meta Platforms were worth $32,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in Meta Platforms by 1.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,185,644 shares of the social networking company’s stock valued at $419,671,000 after purchasing an additional 19,355 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in shares of Meta Platforms by 9.7% in the fourth quarter. Childress Capital Advisors LLC now owns 7,630 shares of the social networking company’s stock valued at $2,701,000 after buying an additional 674 shares in the last quarter. SageView Advisory Group LLC grew its holdings in Meta Platforms by 40.1% during the fourth quarter. SageView Advisory Group LLC now owns 19,786 shares of the social networking company’s stock worth $7,003,000 after acquiring an additional 5,668 shares during the period. Hobbs Group Advisors LLC purchased a new position in Meta Platforms in the fourth quarter worth $1,676,000. Finally, Burford Brothers Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at $2,134,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

NASDAQ META opened at $589.95 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 30.11, a P/E/G ratio of 1.45 and a beta of 1.22. The business’s 50-day simple moving average is $538.12 and its 200-day simple moving average is $505.52.

Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the company posted $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. Equities analysts predict that Meta Platforms, Inc. will post 21.37 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 issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 10.21%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $501.42, for a total value of $453,785.10. Following the completion of the sale, the insider now owns 36,035 shares in the company, valued at approximately $18,068,669.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total transaction of $453,785.10. Following the completion of the sale, the insider now directly owns 36,035 shares of the company’s stock, valued at approximately $18,068,669.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00. Following the completion of the transaction, the chief operating officer now owns 5,559 shares in the company, valued at $2,573,817. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 252,443 shares of company stock valued at $133,105,284 over the last three months. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays increased their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley lifted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price target on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup lifted their price objective on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, TD Securities upped their target price on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $609.71.

Check Out Our Latest Research Report on META

Meta Platforms Profile

(Free Report)

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.

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