Charles Schwab Investment Management Inc. increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,827,565 shares of the social networking company's stock after buying an additional 118,298 shares during the quarter. Meta Platforms comprises 1.5% of Charles Schwab Investment Management Inc.'s portfolio, making the stock its 6th largest position. Charles Schwab Investment Management Inc. owned about 0.55% of Meta Platforms worth $7,915,451,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of Meta Platforms by 48.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company's stock valued at $23,886,000 after acquiring an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX raised its stake in shares of Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company's stock worth $1,862,000 after buying an additional 3,224 shares in the last quarter. Ascent Group LLC raised its position in Meta Platforms by 0.6% in the first quarter. Ascent Group LLC now owns 27,652 shares of the social networking company's stock worth $13,427,000 after acquiring an additional 178 shares in the last quarter. Waterford Advisors LLC lifted its stake in Meta Platforms by 24.8% during the first quarter. Waterford Advisors LLC now owns 956 shares of the social networking company's stock valued at $464,000 after purchasing an additional 190 shares during the last quarter. Finally, Ashford Capital Management Inc. bought a new stake in shares of Meta Platforms during the 1st quarter worth $3,916,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Activity
In related news, CAO Aaron Anderson sold 731 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares of the company's stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company's stock, valued at $311,054,400. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,843 shares of company stock worth $92,083,554 in the last quarter. Corporate insiders own 13.71% of the company's stock.
Analyst Upgrades and Downgrades
META has been the topic of several analyst reports. BMO Capital Markets lifted their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. Royal Bank of Canada reiterated an "outperform" rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Pivotal Research lifted their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a research 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 given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $634.10.
Read Our Latest Stock Analysis on META
Meta Platforms Trading Down 0.7 %
Shares of NASDAQ:META traded down $3.95 during mid-day trading on Friday, reaching $559.14. The stock had a trading volume of 9,164,004 shares, compared to its average volume of 13,967,285. The firm has a 50 day simple moving average of $572.74 and a two-hundred day simple moving average of $524.71. 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 firm has a market cap of $1.41 trillion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, research analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently declared 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 annualized dividend and a yield of 0.36%. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.
Meta Platforms Profile
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Free Report)
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.
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