Cutter & CO Brokerage Inc. Purchases 65 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cutter & CO Brokerage Inc. boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,735 shares of the social networking company’s stock after buying an additional 65 shares during the period. Meta Platforms makes up about 1.3% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 17th largest holding. Cutter & CO Brokerage Inc.’s holdings in Meta Platforms were worth $5,573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in META. Vanguard Group Inc. grew its position in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares in the last quarter. Capital World Investors boosted its holdings in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares in the last quarter. Capital Research Global Investors increased its position in shares of Meta Platforms by 14.5% during 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. Jennison Associates LLC raised its holdings in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC lifted its position in Meta Platforms by 3.1% in the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after buying an additional 342,742 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Robert W. Baird lifted their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday. Scotiabank cut their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday. DA Davidson began coverage on Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Raymond James boosted their target price on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 10th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 420 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the sale, the chief executive officer now directly owns 518,004 shares of the company’s stock, valued at $310,890,460.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total transaction of $252,071.40. Following the transaction, the chief executive officer now owns 518,004 shares in the company, valued at approximately $310,890,460.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the sale, the insider now owns 31,482 shares of the company’s stock, valued at $18,262,708.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,993 shares of company stock valued at $133,271,982. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META opened at $567.16 on Friday. The firm has a market cap of $1.43 trillion, a PE ratio of 26.72, a P/E/G ratio of 1.44 and a beta of 1.22. The stock has a 50-day moving average price of $555.99 and a 200-day moving average price of $513.03. Meta Platforms, Inc. has a 1 year low of $308.33 and a 1 year high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

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, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Sell-side analysts predict that Meta Platforms, Inc. will post 21.47 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio 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.