Meta Platforms, Inc. (NASDAQ:META) Stake Raised by Sollinda Capital Management LLC

Sollinda Capital Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 674 shares of the social networking company’s stock after purchasing an additional 85 shares during the period. Sollinda Capital Management LLC’s holdings in Meta Platforms were worth $386,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Central Valley Advisors LLC raised its position in Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC grew its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares during the last quarter. Kozak & Associates Inc. raised its holdings in shares of Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Meta Platforms by 0.5% in the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $572.43 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.26 and a beta of 1.22. The stock has a fifty day moving average price of $556.78 and a 200-day moving average price of $513.67.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the transaction, the chief operating officer now owns 10,294 shares in the company, valued at approximately $5,842,668.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the transaction, the chief operating officer now owns 10,294 shares in the company, valued at $5,842,668.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the transaction, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at $38,302,705.23. This trade 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 three months. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on META shares. KeyCorp lifted their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. TD Securities lifted their target price on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Raymond James increased their price target on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Monness Crespi & Hardt boosted their price target on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Guggenheim increased their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

About Meta Platforms

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.