Community Financial Services Group LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Community Financial Services Group LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,852 shares of the social networking company’s stock after buying an additional 426 shares during the period. Meta Platforms accounts for about 1.6% of Community Financial Services Group LLC’s portfolio, making the stock its 17th largest position. Community Financial Services Group LLC’s holdings in Meta Platforms were worth $7,929,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Capital Research Global Investors raised its stake in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC raised its position in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP acquired a new stake in Meta Platforms in the 2nd quarter worth approximately $595,152,000. Vanguard Group Inc. grew its position in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Meta Platforms by 30.0% during the 1st 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 purchasing an additional 788,131 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,324 shares of company stock valued at $132,218,368. 13.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on META shares. Monness Crespi & Hardt boosted their price objective on shares of Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a report on Monday, September 30th. Scotiabank began coverage on Meta Platforms in a report on Friday, October 11th. They issued a “sector perform” rating and a $585.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Evercore ISI lifted their price objective 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $619.20.

Meta Platforms Stock Up 1.2 %

META stock opened at $582.01 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $547.72 and a two-hundred day moving average of $509.22. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The company has a market cap of $1.48 trillion, a price-to-earnings ratio of 33.43, a PEG ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s payout ratio is 11.49%.

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.