LCM Capital Management Inc Has $1.46 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

LCM Capital Management Inc grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the 3rd quarter, Holdings Channel reports. The fund owned 2,552 shares of the social networking company’s stock after buying an additional 79 shares during the period. Meta Platforms accounts for 0.8% of LCM Capital Management Inc’s investment portfolio, making the stock its 21st largest holding. LCM Capital Management Inc’s holdings in Meta Platforms were worth $1,461,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in 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 in the last quarter. Capital World Investors grew its holdings in shares of Meta Platforms by 0.6% during the first 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 last quarter. Capital Research Global Investors grew its holdings 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 worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Jennison Associates LLC grew its holdings 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 worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC grew its holdings 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 worth $5,582,876,000 after purchasing an additional 342,742 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.1 %

NASDAQ META opened at $567.16 on Monday. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. The business has a fifty day simple moving average of $555.99 and a 200 day simple moving average of $513.25. Meta Platforms, Inc. has a 12 month low of $308.33 and a 12 month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.83 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, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts predict that Meta Platforms, Inc. will post 21.84 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Wall Street Analysts Forecast Growth

META has been the topic of several research reports. KeyCorp boosted their price target on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Wells Fargo & Company reduced their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday. DA Davidson initiated coverage on Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. JMP Securities upped their target price on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Activity

In other news, CEO Mark Zuckerberg sold 6,534 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $505.04, for a total transaction of $3,299,931.36. Following the completion of the sale, the chief executive officer now directly owns 116,108 shares of the company’s stock, valued at $58,639,184.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 6,534 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $505.04, for a total transaction of $3,299,931.36. Following the completion of the sale, the chief executive officer now directly owns 116,108 shares of the company’s stock, valued at $58,639,184.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,092 shares of company stock valued at $132,865,496 in the last ninety days. 13.71% of the stock is currently owned by insiders.

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.