Meta Platforms, Inc. (NASDAQ:META) is Campbell Capital Management Inc.’s 5th Largest Position

Campbell Capital Management Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,193 shares of the social networking company’s stock after acquiring an additional 1,110 shares during the period. Meta Platforms accounts for 4.6% of Campbell Capital Management Inc.’s portfolio, making the stock its 5th largest position. Campbell Capital Management Inc.’s holdings in Meta Platforms were worth $11,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its stake in Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after acquiring an additional 16,138 shares in the last quarter. Rockline Wealth Management LLC boosted its position in shares of Meta Platforms by 6.5% in the 1st quarter. Rockline Wealth Management LLC now owns 14,742 shares of the social networking company’s stock worth $7,158,000 after purchasing an additional 904 shares in the last quarter. Hunter Associates Investment Management LLC grew its stake in Meta Platforms by 5.4% during the 1st quarter. Hunter Associates Investment Management LLC now owns 2,093 shares of the social networking company’s stock worth $1,017,000 after buying an additional 107 shares during the last quarter. Crown Wealth Group LLC increased its position in Meta Platforms by 13.3% during the 1st quarter. Crown Wealth Group LLC now owns 1,887 shares of the social networking company’s stock valued at $916,000 after buying an additional 221 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its stake in Meta Platforms by 16.1% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,304 shares of the social networking company’s stock valued at $1,604,000 after buying an additional 459 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on META. Susquehanna upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. JMP Securities boosted their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. UBS Group raised their target price on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 transaction of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction 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 completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,919 shares of company stock worth $129,296,067 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 2.1 %

NASDAQ META opened at $572.43 on Wednesday. The business has a fifty day moving average price of $556.78 and a 200 day moving average price of $513.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company 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. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last posted 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 for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts anticipate that Meta Platforms, Inc. will post 22.44 EPS for the current fiscal 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 issued 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 of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 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.