LCM Capital Management Inc Buys 79 Shares of Meta Platforms, Inc. (NASDAQ:META)

LCM Capital Management Inc grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,552 shares of the social networking company’s stock after acquiring an additional 79 shares during the quarter. Meta Platforms accounts for 0.8% of LCM Capital Management Inc’s holdings, making the stock its 21st biggest position. LCM Capital Management Inc’s holdings in Meta Platforms were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of META. Benchmark Financial Wealth Advisors LLC increased its stake in shares of Meta Platforms by 1.6% in the 1st quarter. Benchmark Financial Wealth Advisors LLC now owns 3,269 shares of the social networking company’s stock valued at $1,587,000 after acquiring an additional 50 shares during the last quarter. Edge Financial Advisors LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at about $270,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Meta Platforms by 48.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after acquiring an additional 16,138 shares during the last quarter. SeaBridge Investment Advisors LLC increased its stake in shares of Meta Platforms by 234.1% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 8,723 shares of the social networking company’s stock valued at $4,236,000 after acquiring an additional 6,112 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at about $22,878,000. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. Roth Mkm increased their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James increased their target price on Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. DA Davidson initiated coverage on Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price for the company. Morgan Stanley increased their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup increased their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, four have assigned 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Activity

In other news, CEO Mark Zuckerberg sold 6,534 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total value of $3,299,931.36. Following the completion of the sale, the chief executive officer now owns 116,108 shares of the company’s stock, valued at approximately $58,639,184.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 6,534 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $505.04, for a total value of $3,299,931.36. Following the completion of the transaction, the chief executive officer now owns 116,108 shares of the company’s stock, valued at $58,639,184.32. 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. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,092 shares of company stock valued at $132,865,496. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.1 %

Shares of Meta Platforms stock opened at $567.16 on Monday. The firm has a 50-day moving average of $555.99 and a 200-day moving average of $513.25. The stock has a market cap of $1.43 trillion, a PE ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $308.33 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.83 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results 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. 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 35.55% and a return on equity of 35.60%. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.84 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is presently 9.42%.

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.