Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Chris Bulman Inc

Chris Bulman Inc grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 495 shares of the social networking company’s stock after purchasing an additional 20 shares during the period. Chris Bulman Inc’s holdings in Meta Platforms were worth $283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors raised its holdings in Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Jennison Associates LLC increased its position in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Meta Platforms during the 2nd quarter worth $595,152,000. Vanguard Group Inc. boosted its position in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Meta Platforms by 30.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after acquiring an additional 788,131 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.7 %

NASDAQ:META opened at $567.78 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The stock has a 50-day simple moving average of $549.53 and a 200 day simple moving average of $509.99.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Ratings Changes

Several research firms have recently commented on META. BMO Capital Markets increased their price target on shares of Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a research report on Wednesday, October 9th. Stifel Nicolaus raised their price target on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Guggenheim boosted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Roth Mkm lifted their price target on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $619.20.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now owns 32,387 shares in the company, valued at $18,612,808.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $521.48, for a total transaction of $214,849.76. Following the completion of the transaction, the chief operating officer now owns 5,147 shares in the company, valued at approximately $2,684,057.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the transaction, the insider now directly owns 32,387 shares of the company’s stock, valued at $18,612,808.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 250,817 shares of company stock valued at $132,547,715. Company 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.