Penserra Capital Management LLC Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Penserra Capital Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 130.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,898 shares of the social networking company’s stock after purchasing an additional 1,075 shares during the quarter. Penserra Capital Management LLC’s holdings in Meta Platforms were worth $1,085,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in META. POM Investment Strategies LLC purchased a new position in Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter worth $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the third quarter worth $49,000. Finally, NewSquare Capital LLC boosted its stake in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $573.54 on Wednesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22. The business’s fifty day moving average is $573.38 and its 200 day moving average is $525.35. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (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 analyst estimates of $40.21 billion. Research analysts expect that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business 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 of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the completion of the sale, the chief operating officer now directly owns 19,579 shares in the company, valued at approximately $11,018,473.83. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,656 shares of company stock valued at $61,933,867 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

META has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Roth Mkm lifted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Pivotal Research increased their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Two 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.71.

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.