Plotkin Financial Advisors LLC Takes $421,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Plotkin Financial Advisors LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 736 shares of the social networking company’s stock, valued at approximately $421,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares in 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 holdings in shares of Meta Platforms by 926.6% during 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 in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth approximately $285,690,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $574.32 on Friday. 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 company has a market cap of $1.45 trillion, a PE ratio of 27.05, a P/E/G ratio of 1.27 and a beta of 1.22. The business has a 50 day moving average of $575.21 and a 200 day moving average of $527.76. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results 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. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $562.77, for a total transaction of $232,424.01. Following the sale, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at $11,018,473.83. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total value of $470,600.00. Following the sale, the insider now directly owns 38,722 shares in the company, valued at $20,135,440. This trade represents a 2.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,239 shares of company stock worth $59,681,541. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. KeyCorp increased their target price on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. TD Cowen increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays increased their target price on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BMO Capital Markets increased their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, Truist Financial increased their price target on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $634.71.

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.