Meta Platforms, Inc. (NASDAQ:META) Shares Bought by DLK Investment Management LLC

DLK Investment Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,972 shares of the social networking company’s stock after buying an additional 41 shares during the period. DLK Investment Management LLC’s holdings in Meta Platforms were worth $1,129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in META. Castle Rock Wealth Management LLC increased its stake in Meta Platforms by 0.4% during the third quarter. Castle Rock Wealth Management LLC now owns 14,567 shares of the social networking company’s stock worth $8,652,000 after acquiring an additional 58 shares during the last quarter. LVW Advisors LLC raised its holdings in shares of Meta Platforms by 13.8% in the 3rd quarter. LVW Advisors LLC now owns 8,863 shares of the social networking company’s stock valued at $5,073,000 after buying an additional 1,077 shares during the period. Independence Bank of Kentucky lifted its stake in Meta Platforms by 39.8% during the 3rd quarter. Independence Bank of Kentucky now owns 16,735 shares of the social networking company’s stock worth $9,580,000 after acquiring an additional 4,762 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its holdings in Meta Platforms by 0.6% during the 3rd quarter. Franklin Street Advisors Inc. NC now owns 94,159 shares of the social networking company’s stock valued at $53,900,000 after acquiring an additional 607 shares during the period. Finally, Worth Asset Management LLC grew its position in Meta Platforms by 6.7% in the 3rd quarter. Worth Asset Management LLC now owns 715 shares of the social networking company’s stock valued at $409,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total transaction of $533,850.45. Following the sale, the insider now directly owns 34,197 shares of the company’s stock, valued at approximately $20,172,468.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total transaction of $533,850.45. Following the sale, the insider now directly owns 34,197 shares of the company’s stock, valued at $20,172,468.33. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 1,712 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $502.27, for a total transaction of $859,886.24. Following the sale, the chief executive officer now directly owns 129,888 shares in the company, valued at $65,238,845.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,443 shares of company stock valued at $133,105,284 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Monness Crespi & Hardt increased their price target on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Wedbush reissued an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $609.71.

Meta Platforms Stock Performance

Shares of META traded up $1.41 during trading hours on Friday, reaching $585.24. 3,232,280 shares of the company traded hands, compared to its average volume of 15,334,787. The stock’s fifty day moving average is $536.08 and its 200 day moving average is $504.92. The stock has a market cap of $1.48 trillion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.23 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal 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 $0.50 dividend. 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 dividend payout ratio (DPR) is presently 10.21%.

Meta Platforms Company 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.