TB Alternative Assets Ltd. Has $26.35 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

TB Alternative Assets Ltd. decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 32.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,027 shares of the social networking company’s stock after selling 22,273 shares during the period. Meta Platforms comprises approximately 6.3% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 3rd biggest holding. TB Alternative Assets Ltd.’s holdings in Meta Platforms were worth $26,348,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC lifted its holdings in 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 during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in Meta Platforms during the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the third quarter worth approximately $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Loop Capital boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Citigroup boosted their price target on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, DA Davidson began coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $617.37.

Meta Platforms Stock Down 0.2 %

Shares of NASDAQ:META opened at $575.16 on Tuesday. The business’s 50 day simple moving average is $547.72 and its two-hundred day simple moving average is $509.22. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market cap of $1.46 trillion, a P/E ratio of 33.04, a PEG ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.23 EPS. As a group, research analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,911 shares of company stock worth $131,978,559. Insiders own 13.71% of the company’s stock.

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.