Y Intercept Hong Kong Ltd Buys 535 Shares of Meta Platforms, Inc. (NASDAQ:META)

Y Intercept Hong Kong Ltd boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,111 shares of the social networking company’s stock after acquiring an additional 535 shares during the quarter. Meta Platforms accounts for 0.4% of Y Intercept Hong Kong Ltd’s portfolio, making the stock its 22nd largest position. Y Intercept Hong Kong Ltd’s holdings in Meta Platforms were worth $6,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lindenwold Advisors INC boosted its position in shares of Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares during the period. Central Valley Advisors LLC lifted its stake in Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC boosted its position in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC grew its stake in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. raised its holdings in shares of Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 2.4 %

META opened at $623.77 on Monday. The stock has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 1.35 and a beta of 1.20. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $317.77 and a twelve month high of $629.79. The company has a 50-day simple moving average of $579.64 and a 200 day simple moving average of $533.06.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping 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 net margin of 35.55% and a return on equity of 35.60%. Analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analyst Weigh In

META has been the subject of several recent research reports. Truist Financial increased their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Susquehanna increased their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Pivotal Research increased their price target on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Roth Mkm raised their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $577.49, for a total transaction of $238,503.37. Following the sale, the chief operating officer now owns 19,166 shares of the company’s stock, valued at approximately $11,068,173.34. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $595.00, for a total value of $538,475.00. Following the completion of the transaction, the insider now owns 36,535 shares of the company’s stock, valued at $21,738,325. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,160 shares of company stock valued at $81,611,223. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.