Apollon Wealth Management LLC Acquires 1,606 Shares of Meta Platforms, Inc. (NASDAQ:META)

Apollon Wealth Management LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 44,624 shares of the social networking company’s stock after acquiring an additional 1,606 shares during the quarter. Meta Platforms accounts for about 0.7% of Apollon Wealth Management LLC’s holdings, making the stock its 26th biggest holding. Apollon Wealth Management LLC’s holdings in Meta Platforms were worth $25,545,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in META. International Assets Investment Management LLC lifted its holdings in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Sustainable Growth Advisers LP bought a new stake in Meta Platforms during the 2nd quarter valued at $595,152,000. Vanguard Group Inc. raised its holdings in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Meta Platforms by 30.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after buying an additional 788,131 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

NASDAQ META opened at $577.16 on Friday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.29 and a beta of 1.22. The company’s 50 day moving average is $565.83 and its two-hundred day moving average is $518.72. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Analyst Ratings Changes

META has been the subject of several research reports. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Jefferies Financial Group upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barclays upped their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. TD Cowen upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Bank of America upped their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock valued at $84,533,106 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

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.