Meta Platforms, Inc. $META Shares Purchased by BLB&B Advisors LLC

BLB&B Advisors LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,527 shares of the social networking company’s stock after acquiring an additional 1,374 shares during the period. BLB&B Advisors LLC’s holdings in Meta Platforms were worth $16,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Meta Platforms by 0.8% in the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock worth $142,149,566,000 after buying an additional 1,532,568 shares during the last quarter. State Street Corp grew its holdings in Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after acquiring an additional 1,650,435 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Meta Platforms by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 51,575,209 shares of the social networking company’s stock worth $37,902,948,000 after purchasing an additional 682,768 shares during the last quarter. Norges Bank bought a new stake in shares of Meta Platforms in the 2nd quarter worth about $23,155,393,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Meta Platforms by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,489,621 shares of the social networking company’s stock valued at $10,694,644,000 after purchasing an additional 262,550 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $658.69, for a total transaction of $341,860.11. Following the completion of the transaction, the insider directly owned 28,658 shares in the company, valued at approximately $18,876,738.02. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert M. Kimmitt sold 580 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $618.28, for a total value of $358,602.40. Following the completion of the sale, the director owned 5,587 shares in the company, valued at approximately $3,454,330.36. This represents a 9.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 39,077 shares of company stock valued at $23,955,958. Insiders own 13.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on META. Raymond James Financial decreased their price target on Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating for the company in a research note on Monday, January 26th. The Goldman Sachs Group reiterated a “buy” rating on shares of Meta Platforms in a research report on Tuesday, October 14th. Argus reiterated a “buy” rating and issued a $800.00 price target on shares of Meta Platforms in a report on Monday. Guggenheim raised their price objective on Meta Platforms from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, January 29th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $848.50.

View Our Latest Analysis on Meta Platforms

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Stock Performance

META stock opened at $706.41 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.36 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The stock’s fifty day moving average is $653.93 and its two-hundred day moving average is $696.00.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, topping the consensus estimate of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The business had revenue of $59.89 billion during the quarter, compared to analyst estimates of $58.33 billion. During the same quarter in the prior year, the firm earned $8.02 earnings per share. The company’s quarterly revenue was up 23.8% on a year-over-year basis. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were paid a $0.525 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.94%.

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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