Meta Platforms, Inc. (NASDAQ:META) Stake Boosted by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,200 shares of the social networking company’s stock after purchasing an additional 5,300 shares during the period. Polar Asset Management Partners Inc.’s holdings in Meta Platforms were worth $25,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Abacus Wealth Partners LLC acquired a new position in Meta Platforms during the 2nd quarter valued at approximately $212,000. Warther Private Wealth LLC bought a new position in shares of Meta Platforms during the second quarter worth about $208,000. Salem Investment Counselors Inc. grew its position in shares of Meta Platforms by 2.2% during the second quarter. Salem Investment Counselors Inc. now owns 171,129 shares of the social networking company’s stock worth $86,287,000 after acquiring an additional 3,615 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Meta Platforms by 2.1% in the 2nd quarter. Wesbanco Bank Inc. now owns 66,102 shares of the social networking company’s stock worth $33,330,000 after acquiring an additional 1,378 shares during the period. Finally, Cedar Mountain Advisors LLC lifted its position in Meta Platforms by 22.5% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 267 shares of the social networking company’s stock valued at $135,000 after purchasing an additional 49 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the completion of the sale, the chief technology officer now owns 8,565 shares in the company, valued at $4,943,375.40. This represents a 37.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,334 shares of company stock valued at $59,210,941. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price target on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Susquehanna boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Truist Financial upped their price objective on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Roth Mkm raised their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $613.65 on Wednesday. The stock has a market capitalization of $1.55 trillion, a P/E ratio of 28.90, a P/E/G ratio of 1.30 and a beta of 1.20. The business has a 50-day moving average of $575.78 and a two-hundred day moving average of $528.92. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $614.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, equities research analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

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.