Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Amalgamated Bank

Amalgamated Bank boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 486,692 shares of the social networking company’s stock after buying an additional 16,191 shares during the period. Meta Platforms makes up 2.3% of Amalgamated Bank’s holdings, making the stock its 5th biggest holding. Amalgamated Bank’s holdings in Meta Platforms were worth $278,602,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the 3rd quarter valued at $49,000. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $514.89, for a total value of $8,599,692.78. Following the sale, the chief executive officer now owns 89,927 shares of the company’s stock, valued at $46,302,513.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the sale, the insider now owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 228,118 shares of company stock worth $121,237,935 in the last quarter. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Jefferies Financial Group raised their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price target on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, JMP Securities boosted their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Performance

NASDAQ META opened at $591.70 on Friday. The firm has a market cap of $1.50 trillion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $558.95 and its 200-day moving average is $514.71. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) 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.