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

Meyer Handelman Co. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,694 shares of the social networking company’s stock after acquiring an additional 1,870 shares during the quarter. Meyer Handelman Co.’s holdings in Meta Platforms were worth $32,454,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. lifted its position in shares of 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 acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter worth approximately $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on META. Rosenblatt Securities raised their price objective on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Scotiabank began coverage on shares of Meta Platforms in a report on Friday. They issued a “sector perform” rating and a $585.00 price objective for the company. BMO Capital Markets boosted their target price on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Truist Financial increased their price target on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $609.71.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 252,443 shares of company stock worth $133,105,284. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 1.0 %

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. The stock has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 30.11, a PEG ratio of 1.45 and a beta of 1.22. The business has a fifty day moving average price of $538.12 and a 200 day moving average price of $505.52. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.23 earnings per share. Sell-side analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is currently 10.21%.

Meta Platforms Company 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.