BIP Wealth LLC Purchases 69 Shares of Meta Platforms, Inc. (NASDAQ:META)

BIP Wealth LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,473 shares of the social networking company’s stock after purchasing an additional 69 shares during the quarter. BIP Wealth LLC’s holdings in Meta Platforms were worth $1,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in META. Capital World Investors lifted its stake in shares of Meta Platforms by 0.6% in 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 acquiring an additional 244,803 shares during the period. Capital Research Global Investors lifted its position in shares of Meta Platforms by 14.5% in 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 purchasing an additional 4,379,826 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Meta Platforms by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after buying an additional 208,677 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Meta Platforms by 0.3% in the third quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock valued at $3,723,493,000 after buying an additional 17,100 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the sale, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,843 shares of company stock worth $92,083,554 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent analyst reports. Tigress Financial increased their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Robert W. Baird lifted their target price on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Sanford C. Bernstein increased their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. DA Davidson began coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Trading Down 0.4 %

Shares of META stock opened at $563.09 on Friday. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.24 and a beta of 1.22. The company’s fifty day simple moving average is $572.05 and its two-hundred day simple moving average is $523.31. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. 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 issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed 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. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

About Meta Platforms

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.