Meta Platforms, Inc. (NASDAQ:META) Stake Lifted by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,397 shares of the social networking company’s stock after buying an additional 89 shares during the quarter. Meta Platforms makes up 3.0% of Tandem Capital Management Corp ADV’s holdings, making the stock its 5th largest holding. Tandem Capital Management Corp ADV’s holdings in Meta Platforms were worth $5,952,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in META. Accel Wealth Management bought a new position in Meta Platforms in the first quarter worth approximately $266,000. Core Wealth Partners LLC lifted its stake in shares of Meta Platforms by 15.8% during the 1st quarter. Core Wealth Partners LLC now owns 1,063 shares of the social networking company’s stock worth $516,000 after purchasing an additional 145 shares during the last quarter. Tempus Wealth Planning LLC boosted its position in Meta Platforms by 2.2% during the first quarter. Tempus Wealth Planning LLC now owns 2,181 shares of the social networking company’s stock valued at $1,059,000 after purchasing an additional 46 shares in the last quarter. Spinnaker Investment Group LLC purchased a new position in Meta Platforms in the first quarter valued at about $238,000. Finally, Oak Harvest Investment Services raised its holdings in Meta Platforms by 6.4% in the first quarter. Oak Harvest Investment Services now owns 2,780 shares of the social networking company’s stock worth $1,350,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $567.16 on Friday. The company has a market capitalization of $1.43 trillion, a P/E ratio of 26.72, a P/E/G ratio of 1.36 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $308.33 and a 12-month high of $602.95. The business’s 50 day moving average is $555.99 and its two-hundred day moving average is $513.12. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Analysts expect that Meta Platforms, Inc. will post 21.84 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given 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 dividend payout ratio (DPR) is presently 9.42%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Christopher K. Cox sold 20,000 shares of the company’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 sale, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 251,993 shares of company stock valued at $133,271,982. 13.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on META shares. Susquehanna lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Mizuho increased their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $634.10.

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.