Seamount Financial Group Inc. Boosts Position in Meta Platforms, Inc. (NASDAQ:META)

Seamount Financial Group Inc. lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 11.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 497 shares of the social networking company’s stock after purchasing an additional 50 shares during the quarter. Seamount Financial Group Inc.’s holdings in Meta Platforms were worth $285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. Everett Harris & Co. CA lifted its stake in shares of Meta Platforms by 2.3% in the 3rd quarter. Everett Harris & Co. CA now owns 14,045 shares of the social networking company’s stock valued at $8,040,000 after purchasing an additional 319 shares during the last quarter. Key Client Fiduciary Advisors LLC lifted its position in Meta Platforms by 27.9% in the third quarter. Key Client Fiduciary Advisors LLC now owns 2,616 shares of the social networking company’s stock valued at $1,497,000 after buying an additional 571 shares during the last quarter. Harfst & Associates Inc. increased its position in shares of Meta Platforms by 28.1% during the third quarter. Harfst & Associates Inc. now owns 3,815 shares of the social networking company’s stock valued at $2,184,000 after acquiring an additional 837 shares during the last quarter. Clarity Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 3.6% in the 3rd quarter. Clarity Wealth Advisors LLC now owns 12,713 shares of the social networking company’s stock worth $7,278,000 after acquiring an additional 443 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Meta Platforms by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 576,028 shares of the social networking company’s stock worth $329,742,000 after purchasing an additional 7,565 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META opened at $576.47 on Monday. 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, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The firm has a 50-day simple moving average of $546.53 and a 200-day simple moving average of $508.77. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $3.23 EPS. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid 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 currently 11.49%.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The trade was 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 accessible through this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 is available through this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,816 shares of company stock worth $132,421,828. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Pivotal Research began coverage on shares of Meta Platforms in a research note on Tuesday, October 1st. They set a “buy” rating and a $780.00 price target on the stock. Jefferies Financial Group raised their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Roth Mkm lifted their price objective on shares of Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, UBS Group increased their target price on shares of Meta Platforms from $635.00 to $690.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $617.37.

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.