Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Troy Asset Management Ltd

Troy Asset Management Ltd lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,634 shares of the social networking company’s stock after acquiring an additional 5,266 shares during the quarter. Meta Platforms comprises approximately 1.9% of Troy Asset Management Ltd’s holdings, making the stock its 17th biggest holding. Troy Asset Management Ltd’s holdings in Meta Platforms were worth $58,179,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mach 1 Financial Group LLC lifted its position in shares of Meta Platforms by 7.0% during the third quarter. Mach 1 Financial Group LLC now owns 2,016 shares of the social networking company’s stock worth $1,154,000 after purchasing an additional 132 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in Meta Platforms by 1.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 39,414 shares of the social networking company’s stock worth $22,569,000 after buying an additional 428 shares in the last quarter. XML Financial LLC boosted its position in Meta Platforms by 7.7% in the 3rd quarter. XML Financial LLC now owns 1,685 shares of the social networking company’s stock valued at $965,000 after buying an additional 120 shares during the last quarter. Austin Asset Management Co Inc increased its stake in shares of Meta Platforms by 2.9% in the third quarter. Austin Asset Management Co Inc now owns 1,617 shares of the social networking company’s stock worth $926,000 after buying an additional 46 shares during the last quarter. Finally, RKL Wealth Management LLC increased its holdings in shares of Meta Platforms by 3.0% in the 3rd quarter. RKL Wealth Management LLC now owns 6,260 shares of the social networking company’s stock valued at $3,584,000 after acquiring an additional 185 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction that occurred on 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 directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $532.21, for a total value of $481,650.05. Following the transaction, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 175,807 shares of company stock valued at $93,851,617. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research note on Thursday, October 31st. Piper Sandler lifted their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. UBS Group lifted their target price on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Roth Mkm increased their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two 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 issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Down 0.8 %

META stock opened at $580.00 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 27.56, a P/E/G ratio of 1.29 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company’s 50 day simple moving average is $564.48 and its 200-day simple moving average is $518.29.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

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.