Infrastructure Capital Advisors LLC Invests $292,000 in Meta Platforms, Inc. (NASDAQ:META)

Infrastructure Capital Advisors LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 510 shares of the social networking company’s stock, valued at approximately $292,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. POM Investment Strategies LLC acquired a new position in Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. boosted its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new position in Meta Platforms during the third quarter worth $46,000. West Financial Advisors LLC acquired a new position in Meta Platforms during the third quarter worth $49,000. Finally, NewSquare Capital LLC boosted its stake in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying an additional 71 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $569.20 on Friday. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The stock has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $574.75 and its 200-day simple moving average is $526.33.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts expect that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,239 shares of company stock valued at $59,681,541 over the last three months. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on META. Wedbush reissued an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Pivotal Research upped their price target on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Oppenheimer upped their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Susquehanna upped their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned 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, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target 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.