1,474 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Retireful LLC

Retireful LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, Holdings Channel reports. The fund acquired 1,474 shares of the social networking company’s stock, valued at approximately $844,000.

Other hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its holdings in Meta Platforms by 48.8% in the first 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 buying an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX increased its holdings 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 acquiring an additional 3,224 shares during the last quarter. Hyperion Capital Advisors LP raised its position in shares of Meta Platforms by 3.5% during the 1st quarter. Hyperion Capital Advisors LP now owns 29,527 shares of the social networking company’s stock valued at $14,338,000 after acquiring an additional 1,000 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its stake in Meta Platforms by 68.7% during 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 last quarter. Finally, Beck Capital Management LLC boosted 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 during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on META shares. DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. KeyCorp boosted their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JMP Securities increased their target price on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, Truist Financial boosted their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 168,843 shares of company stock valued at $92,083,554. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.7 %

Meta Platforms stock opened at $559.14 on Friday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company’s fifty day moving average price is $572.74 and its two-hundred day moving average price is $523.96. 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 company has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating 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 business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s 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.