Quest Partners LLC Acquires 3,693 Shares of Meta Platforms, Inc. (NASDAQ:META)

Quest Partners LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 923.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,093 shares of the social networking company’s stock after purchasing an additional 3,693 shares during the quarter. Quest Partners LLC’s holdings in Meta Platforms were worth $2,343,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Central Valley Advisors LLC increased its stake in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC increased its position in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC increased its position in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares in the last quarter. Kozak & Associates Inc. increased its position in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in shares of Meta Platforms by 0.5% during the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after acquiring an additional 18 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on META. UBS Group boosted their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Barclays boosted their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Bank of America upped their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Raymond James upped their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Buying and Selling

In related news, CAO Aaron Anderson sold 731 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares of the company’s stock, valued at $7,744,534.08. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,958 shares of company stock worth $101,181,747 in the last three months. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 0.8 %

NASDAQ:META opened at $565.52 on Thursday. The company has a 50-day moving average price of $571.30 and a 200-day moving average price of $523.03. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 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 firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Equities analysts predict 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 paid a $0.50 dividend. The ex-dividend date of this dividend 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%.

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.