Weaver Consulting Group Acquires 68 Shares of Meta Platforms, Inc. (NASDAQ:META)

Weaver Consulting Group boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,250 shares of the social networking company’s stock after acquiring an additional 68 shares during the quarter. Weaver Consulting Group’s holdings in Meta Platforms were worth $1,288,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms during the 2nd quarter worth approximately $595,152,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after buying an additional 661,923 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Meta Platforms by 56,892.0% in the second quarter. Strategic Financial Concepts LLC now owns 564,221 shares of the social networking company’s stock valued at $2,845,000 after acquiring an additional 563,231 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Robert W. Baird increased their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $675.00 price objective on shares of Meta Platforms in a research report on Monday, November 25th. BMO Capital Markets increased their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $634.71.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $595.00, for a total transaction of $538,475.00. Following the completion of the sale, the insider now directly owns 36,535 shares in the company, valued at approximately $21,738,325. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,160 shares of company stock valued at $81,611,223. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.8 %

Shares of META opened at $608.93 on Friday. Meta Platforms, Inc. has a 1 year low of $317.04 and a 1 year high of $619.90. 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 50 day simple moving average of $577.69 and a two-hundred day simple moving average of $530.51. The firm has a market cap of $1.54 trillion, a P/E ratio of 28.68, a P/E/G ratio of 1.35 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is currently 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.