Mitchell Mcleod Pugh & Williams Inc. Buys 150 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,719 shares of the social networking company’s stock after purchasing an additional 150 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Meta Platforms were worth $2,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% during the third 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 purchasing an additional 9,500,444 shares during the last quarter. Capital Research Global Investors lifted its position in Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $595,152,000. Vanguard Group Inc. grew its holdings 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 valued at $90,891,055,000 after acquiring an additional 831,047 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Meta Platforms by 30.0% in the first 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. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the transaction, the insider now directly owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the transaction, the insider now directly owns 41,437 shares in the company, valued at $22,053,185.77. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,807 shares of company stock valued at $93,851,617 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on META. DA Davidson started coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. Loop Capital boosted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Evercore ISI increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Down 0.8 %

Shares of Meta Platforms stock opened at $580.00 on Thursday. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.29 and a beta of 1.22. The stock’s 50-day moving average is $564.48 and its 200 day moving average is $518.29. 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, Inc. has a one year low of $313.66 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.