Cutter & CO Brokerage Inc. Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Cutter & CO Brokerage Inc. increased its position in Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,735 shares of the social networking company’s stock after acquiring an additional 65 shares during the quarter. Meta Platforms comprises approximately 1.3% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 17th biggest position. Cutter & CO Brokerage Inc.’s holdings in Meta Platforms were worth $5,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. International Assets Investment Management LLC raised its stake in Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Capital Research Global Investors raised its position in shares of Meta Platforms by 14.5% during 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 buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms during the second quarter worth $595,152,000. Finally, Vanguard Group Inc. boosted its position in shares of Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, 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 value of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold 251,993 shares of company stock worth $133,271,982 in the last three months. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

META has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Mizuho boosted their target price on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Financial Group increased their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Thursday. Finally, Roth Mkm increased their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday. Two 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Stock Down 0.1 %

NASDAQ:META opened at $567.16 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 1-year low of $308.33 and a 1-year high of $602.95. The company has a 50-day moving average of $555.99 and a 200 day moving average of $513.03. The firm has a market cap of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22.

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 the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. As a group, research analysts anticipate that Meta Platforms, Inc. will post 21.47 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

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.