Meta Platforms, Inc. (NASDAQ:META) Shares Bought by TCP Asset Management LLC

TCP Asset Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 14.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510 shares of the social networking company’s stock after purchasing an additional 65 shares during the quarter. TCP Asset Management LLC’s holdings in Meta Platforms were worth $292,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Meta Platforms by 0.4% during the first 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. Capital World Investors grew its holdings in shares of Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital Research Global Investors raised its position in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Meta Platforms by 24.7% during 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 during the period. Finally, GQG Partners LLC lifted its stake in shares of Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after buying an additional 342,742 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Citigroup upped their target price on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group raised their price target on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America upped their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $634.37.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Mark Zuckerberg sold 6,534 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total transaction of $3,299,931.36. Following the completion of the sale, the chief executive officer now owns 116,108 shares of the company’s stock, valued at $58,639,184.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,573 shares of company stock worth $133,019,910. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 4.1 %

Shares of NASDAQ:META opened at $567.58 on Friday. Meta Platforms, Inc. has a 12-month low of $296.86 and a 12-month high of $602.95. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.44 trillion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The company has a fifty day simple moving average of $555.21 and a 200 day simple moving average of $512.56.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.