Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 57,001.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,517,111 shares of the social networking company’s stock after purchasing an additional 9,500,444 shares during the period. Meta Platforms makes up about 0.7% of International Assets Investment Management LLC’s holdings, making the stock its 21st largest holding. International Assets Investment Management LLC’s holdings in Meta Platforms were worth $5,447,975,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in META. Central Valley Advisors LLC grew its position in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC grew its position in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC grew its position in 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 acquiring an additional 18 shares in the last quarter. Kozak & Associates Inc. grew its position in 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 acquiring an additional 18 shares in the last quarter. Finally, Firethorn Wealth Partners LLC grew its position in Meta Platforms by 1.8% in the third quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock valued at $615,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $573.25 on Friday. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The stock’s fifty day moving average is $551.05 and its 200-day moving average is $510.76.

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

Meta Platforms Dividend Announcement

The firm also recently declared 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the transaction, the insider now directly owns 32,387 shares of the company’s stock, valued at $18,612,808.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 250,817 shares of company stock valued at $132,547,715 over the last three months. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Citigroup increased their price objective on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Monness Crespi & Hardt increased their target price on Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Susquehanna increased their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Finally, TD Securities increased their target price on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $621.63.

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.