Pathstone Holdings LLC Acquires 172 Shares of Meta Platforms, Inc. (NASDAQ:META)

Pathstone Holdings LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 240,005 shares of the social networking company’s stock after acquiring an additional 172 shares during the quarter. Meta Platforms accounts for about 0.6% of Pathstone Holdings LLC’s holdings, making the stock its 24th biggest holding. Pathstone Holdings LLC’s holdings in Meta Platforms were worth $137,390,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its position in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after acquiring an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX increased its stake in shares of Meta Platforms by 541.8% in the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after buying an additional 3,224 shares during the period. Capital Group Private Client Services Inc. raised its holdings in Meta Platforms by 39.1% during the 1st quarter. Capital Group Private Client Services Inc. now owns 223,025 shares of the social networking company’s stock valued at $108,296,000 after buying an additional 62,643 shares during the last quarter. Capital International Sarl boosted its position in Meta Platforms by 5.7% during the 1st quarter. Capital International Sarl now owns 292,128 shares of the social networking company’s stock valued at $141,852,000 after buying an additional 15,864 shares during the period. Finally, Capital Research Global Investors grew its holdings in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.4 %

Shares of META stock opened at $563.09 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The stock has a market capitalization of $1.42 trillion, a P/E ratio of 26.52, a P/E/G ratio of 1.24 and a beta of 1.22. The firm’s 50 day moving average is $572.05 and its 200 day moving average is $523.31.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Research analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total value of $469,740.25. Following the completion of the sale, the insider now owns 39,627 shares in the company, valued at $20,568,394.35. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 7,975 shares of Meta Platforms stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $516.36, for a total value of $4,117,971.00. Following the transaction, the chief executive officer now directly owns 531,884 shares in the company, valued at approximately $274,643,622.24. The trade was a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,843 shares of company stock worth $92,083,554. 13.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Loop Capital increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. UBS Group lifted their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Bank of America raised their price target on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus upped their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $634.10.

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.