Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Lansing Street Advisors

Lansing Street Advisors boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 774 shares of the social networking company’s stock after acquiring an additional 56 shares during the period. Lansing Street Advisors’ holdings in Meta Platforms were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harvey Capital Management Inc. lifted its holdings in shares of Meta Platforms by 24.2% in the third quarter. Harvey Capital Management Inc. now owns 10,060 shares of the social networking company’s stock valued at $5,759,000 after purchasing an additional 1,960 shares in the last quarter. TrueWealth Advisors LLC raised its position in shares of Meta Platforms by 14.0% during the 3rd quarter. TrueWealth Advisors LLC now owns 1,080 shares of the social networking company’s stock worth $618,000 after purchasing an additional 133 shares during the last quarter. RWQ Financial Management Services Inc. raised its position in shares of Meta Platforms by 46.1% during the 3rd quarter. RWQ Financial Management Services Inc. now owns 74,932 shares of the social networking company’s stock worth $42,894,000 after purchasing an additional 23,647 shares during the last quarter. BSW Wealth Partners lifted its stake in Meta Platforms by 4.3% in the 3rd quarter. BSW Wealth Partners now owns 4,601 shares of the social networking company’s stock valued at $2,634,000 after buying an additional 190 shares in the last quarter. Finally, Nvwm LLC increased its position in Meta Platforms by 0.3% during the 3rd quarter. Nvwm LLC now owns 12,898 shares of the social networking company’s stock worth $7,383,000 after purchasing an additional 43 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $513.09, for a total value of $8,569,629.18. Following the completion of the transaction, the chief executive officer now owns 98,654 shares in the company, valued at $50,618,380.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $513.09, for a total value of $8,569,629.18. Following the completion of the sale, the chief executive officer now owns 98,654 shares in the company, valued at $50,618,380.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the completion of the sale, the chief operating officer now directly owns 10,294 shares of the company’s stock, valued at $5,842,668.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,919 shares of company stock valued at $129,296,067. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on META. Robert W. Baird increased their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Evercore ISI lifted their price target on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Bank of America boosted their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Down 0.1 %

Meta Platforms stock opened at $572.05 on Thursday. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 26.95, a P/E/G ratio of 1.26 and a beta of 1.22. The company has a 50-day simple moving average of $557.85 and a 200-day simple moving average of $514.31. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating 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 company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 22.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s 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.