Planning Capital Management Corp Has $228,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Planning Capital Management Corp boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 19.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 398 shares of the social networking company’s stock after acquiring an additional 65 shares during the period. Planning Capital Management Corp’s holdings in Meta Platforms were worth $228,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. lifted its stake in shares of Meta Platforms by 13.9% in the third quarter. Zions Bancorporation N.A. now owns 29,347 shares of the social networking company’s stock valued at $16,799,000 after buying an additional 3,575 shares in the last quarter. KBC Group NV lifted its position in Meta Platforms by 16.5% in the 3rd quarter. KBC Group NV now owns 1,976,357 shares of the social networking company’s stock valued at $1,131,347,000 after acquiring an additional 280,266 shares in the last quarter. Huntington National Bank boosted its stake in Meta Platforms by 6.4% during the 3rd quarter. Huntington National Bank now owns 297,700 shares of the social networking company’s stock valued at $170,415,000 after purchasing an additional 17,965 shares during the last quarter. Summit Asset Management LLC increased its holdings in Meta Platforms by 10.7% during the 3rd quarter. Summit Asset Management LLC now owns 796 shares of the social networking company’s stock worth $456,000 after purchasing an additional 77 shares in the last quarter. Finally, Bouvel Investment Partners LLC raised its stake in shares of Meta Platforms by 0.4% in the third quarter. Bouvel Investment Partners LLC now owns 9,489 shares of the social networking company’s stock worth $5,432,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $554.08 on Monday. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.40 trillion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The firm’s 50 day simple moving average is $568.11 and its 200 day simple moving average is $521.17.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal 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 given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Ratings Changes

Several research analysts recently issued reports on META shares. Jefferies Financial Group lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. TD Cowen lifted 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Stifel Nicolaus raised their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Two investment 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total value of $8,906,174.48. Following the completion of the transaction, the chief executive officer now owns 28,838 shares of the company’s stock, valued at $15,377,575.12. The trade was a 36.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $528.38, for a total transaction of $478,183.90. Following the sale, the insider now owns 40,532 shares in the company, valued at approximately $21,416,298.16. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,498 shares of company stock valued at $75,732,154. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Company 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.