Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,524 shares of the social networking company’s stock after purchasing an additional 2,208 shares during the period. Pallas Capital Advisors LLC’s holdings in Meta Platforms were worth $11,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the period. Capital World Investors lifted its position in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital Research Global Investors lifted its position in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Jennison Associates LLC lifted its position in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Finally, GQG Partners LLC lifted its position in shares of Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after acquiring an additional 342,742 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on META shares. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday. Susquehanna lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday. Barclays lifted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $634.37.

Meta Platforms Stock Down 4.1 %

Shares of Meta Platforms stock opened at $567.58 on Friday. The company has a fifty day moving average price of $555.21 and a 200 day moving average price of $512.56. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $296.86 and a twelve month high of $602.95. The stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Equities research analysts forecast that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal 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 given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $188,810,838.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 251,573 shares of company stock valued at $133,019,910 in the last ninety days. Insiders own 13.71% of the company’s stock.

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.