Meta Platforms, Inc. (NASDAQ:META) Stock Position Boosted by V Square Quantitative Management LLC

V Square Quantitative Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 72.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,228 shares of the social networking company’s stock after acquiring an additional 3,031 shares during the period. Meta Platforms accounts for approximately 0.6% of V Square Quantitative Management LLC’s holdings, making the stock its 23rd biggest position. V Square Quantitative Management LLC’s holdings in Meta Platforms were worth $4,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Central Valley Advisors LLC increased its position in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after buying an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC raised its position in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares in the last quarter. Kozak & Associates Inc. grew its position in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the period. Finally, Firethorn Wealth Partners LLC increased its stake in Meta Platforms by 1.8% during the 3rd quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock worth $615,000 after purchasing an additional 19 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Down 0.1 %

META stock opened at $576.47 on Friday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The company has a market capitalization of $1.46 trillion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company’s 50-day simple moving average is $546.53 and its 200 day simple moving average is $508.76. 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 (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the business posted $3.23 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 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 $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the completion of the transaction, the insider now owns 33,292 shares of the company’s stock, valued at $19,641,281.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total value of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares of the company’s stock, valued at $19,641,281.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. In the last three months, insiders sold 250,816 shares of company stock worth $132,421,828. 13.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

META has been the topic of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wolfe Research initiated coverage on Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. Barclays boosted their price target on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Tigress Financial increased their price objective on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $617.37.

About Meta Platforms

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.