Indie Asset Partners LLC Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Indie Asset Partners LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,769 shares of the social networking company’s stock after acquiring an additional 66 shares during the period. Meta Platforms accounts for approximately 2.5% of Indie Asset Partners LLC’s holdings, making the stock its 4th biggest holding. Indie Asset Partners LLC’s holdings in Meta Platforms were worth $3,302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. Vanguard Group Inc. raised its stake in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares during the period. Capital World Investors raised its position in Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital Research Global Investors raised its position in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Jennison Associates LLC boosted its position in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares during the period. Finally, GQG Partners LLC grew its stake in shares of Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after buying an additional 342,742 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $572.43 on Wednesday. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.45 trillion, a P/E ratio of 26.96, a P/E/G ratio of 1.26 and a beta of 1.22. The business’s 50 day moving average price is $556.78 and its 200 day moving average price is $513.67.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the sale, the chief operating officer now owns 10,294 shares in the company, valued at approximately $5,842,668.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $567.58, for a total value of $234,410.54. Following the completion of the transaction, the chief operating officer now directly owns 10,294 shares in the company, valued at $5,842,668.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now owns 37,817 shares in the company, valued at approximately $19,197,043.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,919 shares of company stock valued at $129,296,067 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on META shares. Bank of America raised their price target on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets lifted their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. TD Securities upped their target price on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.