Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Curi RMB Capital LLC

Curi RMB Capital LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,807 shares of the social networking company’s stock after purchasing an additional 266 shares during the period. Curi RMB Capital LLC’s holdings in Meta Platforms were worth $4,469,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. POM Investment Strategies LLC purchased a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC grew its holdings in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $554.08 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a 50 day moving average price of $568.11 and a 200 day moving average price of $521.17.

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, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total value of $8,906,174.48. Following the completion of the sale, the chief executive officer now owns 28,838 shares of the company’s stock, valued at approximately $15,377,575.12. This represents a 36.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,498 shares of company stock worth $75,732,154. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler raised their target price on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Monness Crespi & Hardt boosted their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets upped their price target on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

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.