Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 9.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,048 shares of the social networking company’s stock after purchasing an additional 1,480 shares during the period. Meta Platforms comprises 1.7% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 14th biggest position. Te Ahumairangi Investment Management Ltd’s holdings in Meta Platforms were worth $9,704,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $36,000. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Finally, Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, September 13th. The stock was sold at an average price of $520.57, for a total value of $214,995.41. Following the completion of the transaction, the chief operating officer now directly owns 13,185 shares in the company, valued at approximately $6,863,715.45. This trade represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total value of $22,746,973.25. The disclosure for this sale can be found here. Insiders sold a total of 213,510 shares of company stock worth $126,396,359 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 2.2 %

META opened at $632.68 on Thursday. Meta Platforms, Inc. has a 52 week low of $324.56 and a 52 week high of $638.40. The business has a fifty day simple moving average of $582.52 and a 200-day simple moving average of $535.78. The firm has a market cap of $1.60 trillion, a P/E ratio of 29.80, a P/E/G ratio of 1.37 and a beta of 1.20. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its quarterly 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 return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, equities analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial boosted their price objective on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Scotiabank cut their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. TD Cowen lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, DA Davidson started coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. Two equities research 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 given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $635.20.

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.