Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,827,565 shares of the social networking company’s stock after acquiring an additional 118,298 shares during the quarter. Meta Platforms makes up about 1.5% of Charles Schwab Investment Management Inc.’s portfolio, making the stock its 6th biggest holding. Charles Schwab Investment Management Inc.’s holdings in Meta Platforms were worth $7,915,451,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of META. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the third quarter worth approximately $46,000. West Financial Advisors LLC acquired a new stake in Meta Platforms during the third quarter worth $49,000. Finally, NewSquare Capital LLC raised its position in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on META shares. Piper Sandler raised their price objective on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Mizuho boosted their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Barclays boosted their target price on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Wedbush restated an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, four have given 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, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $559.14 on Friday. 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, Inc. has a one year low of $313.66 and a one year high of $602.95. The firm has a market capitalization of $1.41 trillion, a P/E ratio of 26.34, a PEG ratio of 1.25 and a beta of 1.22. The company’s fifty day moving average is $572.74 and its two-hundred day moving average is $524.35.

Meta Platforms (NASDAQ:META) last issued its earnings results 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s payout ratio is 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 620 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00. Following the completion of the transaction, the chief operating officer now owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This trade represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,843 shares of company stock valued at $92,083,554. Insiders own 13.71% of the company’s stock.

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.