Connable Office Inc. Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Connable Office Inc. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,655 shares of the social networking company’s stock after purchasing an additional 31 shares during the period. Connable Office Inc.’s holdings in Meta Platforms were worth $3,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of META. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the second quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% during the 2nd 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 during the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the third quarter worth approximately $46,000. West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC lifted its position in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after purchasing an additional 71 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Bank of America raised their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Raymond James raised their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,593 shares of company stock valued at $75,253,970 over the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.1 %

Shares of META opened at $554.40 on Tuesday. 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 market capitalization of $1.40 trillion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The business’s 50 day simple moving average is $569.10 and its 200-day simple moving average is $521.96.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Meta Platforms 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.