800 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by MidAtlantic Capital Management Inc.

MidAtlantic Capital Management Inc. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 800 shares of the social networking company’s stock, valued at approximately $458,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Sustainable Growth Advisers LP bought a new position in Meta Platforms during the second quarter worth $595,152,000. Canada Pension Plan Investment Board lifted its stake in shares of Meta Platforms by 30.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after purchasing an additional 788,131 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Meta Platforms by 926.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after purchasing an additional 661,923 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research reports. Morgan Stanley upped their price target on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Monness Crespi & Hardt increased their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Piper Sandler increased their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two equities 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 currently has an average rating of “Moderate Buy” and an average target price of $634.10.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now directly owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,958 shares of company stock worth $101,181,747. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.8 %

Shares of NASDAQ META opened at $565.52 on Thursday. 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 firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The business’s 50 day moving average is $571.30 and its two-hundred day moving average is $523.03.

Meta Platforms (NASDAQ:META) last announced its 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 business had revenue of $40.59 billion during 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 predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s 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.