Princeton Global Asset Management LLC Has $307,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Princeton Global Asset Management LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 6,612.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 537 shares of the social networking company’s stock after acquiring an additional 529 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Meta Platforms were worth $307,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. purchased a new position in Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms during the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $572.43 on Wednesday. The firm has a 50 day simple moving average of $556.78 and a 200 day simple moving average of $513.67. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The firm has a market cap of $1.45 trillion, a P/E ratio of 26.96, a P/E/G ratio of 1.26 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last released 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 net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts predict that Meta Platforms, Inc. will post 22.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. 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 payout ratio is 9.42%.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the sale, the chief executive officer now owns 98,654 shares of the company’s stock, valued at $50,618,380.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the transaction, the chief executive officer now directly owns 98,654 shares of the company’s stock, valued at $50,618,380.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,919 shares of company stock worth $129,296,067. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on META. Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. BMO Capital Markets increased their price objective 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, Wolfe Research assumed coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

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.