Beck Capital Management LLC Raises Position in Meta Platforms, Inc. (NASDAQ:META)

Beck Capital Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,191 shares of the social networking company’s stock after purchasing an additional 143 shares during the period. Meta Platforms makes up approximately 4.2% of Beck Capital Management LLC’s holdings, making the stock its 2nd largest position. Beck Capital Management LLC’s holdings in Meta Platforms were worth $15,565,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC raised its position in Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares during the period. Sustainable Growth Advisers LP purchased a new position in shares of Meta Platforms during the 2nd quarter worth $595,152,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Meta Platforms by 926.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter worth $285,690,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.9 %

Shares of Meta Platforms stock opened at $574.32 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.27 and a beta of 1.22. The firm’s 50-day moving average is $575.21 and its two-hundred day moving average is $527.76. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 35.55% and a return on equity of 35.60%. As a group, research analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total value of $511,596.50. Following the transaction, the insider now owns 37,790 shares in the company, valued at $21,362,687. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $522.00, for a total transaction of $215,586.00. Following the sale, the chief operating officer now directly owns 13,598 shares of the company’s stock, valued at approximately $7,098,156. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 106,239 shares of company stock valued at $59,681,541. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on META shares. Mizuho lifted their target price on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. JMP Securities lifted their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. TD Cowen increased 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 lowered their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Finally, Guggenheim increased their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Two investment 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $634.71.

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.