Meta Platforms, Inc. (NASDAQ:META) Stock Position Increased by MayTech Global Investments LLC

MayTech Global Investments LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 99,093 shares of the social networking company’s stock after buying an additional 9,614 shares during the quarter. Meta Platforms accounts for 7.5% of MayTech Global Investments LLC’s investment portfolio, making the stock its 2nd largest holding. MayTech Global Investments LLC’s holdings in Meta Platforms were worth $56,725,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of META. Charles Schwab Investment Management Inc. increased its stake in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares during the period. LS Investment Advisors LLC increased its stake in Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after buying an additional 6,155 shares during the period. Gradient Investments LLC lifted its holdings in Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after buying an additional 5,953 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its position in Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after buying an additional 65 shares during the period. Finally, Stanley Laman Group Ltd. grew its stake in Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after acquiring an additional 352 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird boosted their price target on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Susquehanna increased their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Scotiabank reduced their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Two investment 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $522.00, for a total transaction of $215,586.00. Following the completion of the sale, the chief operating officer now owns 13,598 shares of the company’s stock, valued at $7,098,156. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the transaction, the insider now directly owns 37,790 shares in the company, valued at approximately $21,362,687. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,239 shares of company stock worth $59,681,541 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $569.20 on Friday. 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 stock’s 50 day simple moving average is $574.75 and its 200-day simple moving average is $526.33. The company has a market cap of $1.44 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.