Princeton Global Asset Management LLC Buys 529 Shares of Meta Platforms, Inc. (NASDAQ:META)

Princeton Global Asset Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 6,612.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 537 shares of the social networking company’s stock after purchasing an additional 529 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Meta Platforms were worth $307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in META. Delos Wealth Advisors LLC grew its position in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. increased its position in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the last quarter. Finally, Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $46,000. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the sale, the chief operating officer now directly owns 14,424 shares in the company, valued at approximately $7,744,534.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 243,919 shares of company stock valued at $129,296,067 over the last 90 days. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on META shares. Rosenblatt Securities reissued a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a report on Thursday, October 31st. TD Securities increased their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Pivotal Research lifted their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays upped their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets boosted their price objective on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Two investment 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

Shares of META opened at $572.43 on Wednesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.45 trillion, a PE ratio of 26.96, a PEG ratio of 1.26 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The business has a 50-day simple moving average of $556.78 and a two-hundred day simple moving average of $513.67.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 22.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) 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.