Meta Platforms, Inc. (NASDAQ:META) Position Boosted by Altman Advisors Inc.

Altman Advisors Inc. increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the third quarter, HoldingsChannel.com reports. The fund owned 6,725 shares of the social networking company’s stock after acquiring an additional 64 shares during the period. Meta Platforms comprises about 1.7% of Altman Advisors Inc.’s portfolio, making the stock its 10th largest holding. Altman Advisors Inc.’s holdings in Meta Platforms were worth $3,850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. China Universal Asset Management Co. Ltd. boosted its position in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after acquiring an additional 16,138 shares in the last quarter. Cypress Asset Management Inc. TX lifted its stake in shares of Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after purchasing an additional 3,224 shares during the period. Hyperion Capital Advisors LP boosted its position in shares of Meta Platforms by 3.5% during the first quarter. Hyperion Capital Advisors LP now owns 29,527 shares of the social networking company’s stock valued at $14,338,000 after purchasing an additional 1,000 shares in the last quarter. Steel Grove Capital Advisors LLC grew its stake in Meta Platforms by 68.7% in the first quarter. Steel Grove Capital Advisors LLC now owns 1,711 shares of the social networking company’s stock worth $831,000 after purchasing an additional 697 shares during the period. Finally, Beck Capital Management LLC raised its holdings in Meta Platforms by 3.1% in the first quarter. Beck Capital Management LLC now owns 26,390 shares of the social networking company’s stock worth $12,814,000 after purchasing an additional 798 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.7 %

META opened at $559.14 on Friday. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The firm’s 50 day simple moving average is $572.74 and its two-hundred day simple moving average is $523.96. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a PEG ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 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 company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Buying and Selling

In related news, COO Javier Olivan sold 620 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 value of $345,340.00. Following the completion of the transaction, the chief operating officer now owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $520.48, for a total value of $8,693,056.96. Following the sale, the chief executive officer now directly owns 2,657 shares in the company, valued at approximately $1,382,915.36. This represents a 86.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,843 shares of company stock valued at $92,083,554. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Guggenheim boosted 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. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Evercore ISI upped their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $634.10.

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.