Fountainhead AM LLC Acquires 448 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fountainhead AM LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,437 shares of the social networking company’s stock after buying an additional 448 shares during the quarter. Meta Platforms makes up about 0.5% of Fountainhead AM LLC’s investment portfolio, making the stock its 29th largest holding. Fountainhead AM LLC’s holdings in Meta Platforms were worth $2,540,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms in the second quarter valued at $595,152,000. 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. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Meta Platforms by 30.0% in the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock worth $1,656,318,000 after purchasing an additional 788,131 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $528.38, for a total transaction of $478,183.90. Following the completion of the transaction, the insider now directly owns 40,532 shares of the company’s stock, valued at approximately $21,416,298.16. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,200 shares of company stock worth $84,533,106 over the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.5 %

NASDAQ:META opened at $577.16 on Friday. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month 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 capitalization of $1.46 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.29 and a beta of 1.22. The stock’s fifty day simple moving average is $565.83 and its 200-day simple moving average is $518.72.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Equities research analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

META has been the topic of a number of research analyst reports. Bank of America upped their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. TD Cowen increased their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.