Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Raised by Congress Asset Management Co.

Congress Asset Management Co. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,762 shares of the social networking company’s stock after purchasing an additional 2,465 shares during the period. Meta Platforms makes up 1.3% of Congress Asset Management Co.’s portfolio, making the stock its 6th biggest position. Congress Asset Management Co.’s holdings in Meta Platforms were worth $195,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC increased its stake in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. increased its position in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms during the third quarter worth about $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.1 %

NASDAQ META opened at $567.16 on Monday. Meta Platforms, Inc. has a twelve month low of $308.33 and a twelve month high of $602.95. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.83 and a current ratio of 2.73. The firm’s 50 day moving average price is $555.99 and its two-hundred day moving average price is $513.25.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping 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 net margin of 35.55% and a return on equity of 35.60%. Equities analysts anticipate that Meta Platforms, Inc. will post 21.84 EPS for the current year.

Meta Platforms Announces Dividend

The company 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 of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Upgrades and Downgrades

META has been the subject of several research reports. Pivotal Research lifted their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities lifted their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a report on Thursday. Citigroup increased their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America lifted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday. Two research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 6,534 shares of Meta Platforms stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total value of $3,299,931.36. Following the completion of the sale, the chief executive officer now owns 116,108 shares of the company’s stock, valued at approximately $58,639,184.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Mark Zuckerberg sold 6,534 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $505.04, for a total value of $3,299,931.36. Following the completion of the sale, the chief executive officer now directly owns 116,108 shares in the company, valued at approximately $58,639,184.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,092 shares of company stock valued at $132,865,496. 13.71% of the stock is currently owned by corporate 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.