Howe & Rusling Inc. Purchases 1,371 Shares of Meta Platforms, Inc. (NASDAQ:META)

Howe & Rusling Inc. lifted its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,637 shares of the social networking company’s stock after acquiring an additional 1,371 shares during the quarter. Meta Platforms accounts for approximately 2.0% of Howe & Rusling Inc.’s investment portfolio, making the stock its 12th largest holding. Howe & Rusling Inc.’s holdings in Meta Platforms were worth $23,262,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in META. NS Partners Ltd raised its position in shares of Meta Platforms by 2.2% in the 3rd quarter. NS Partners Ltd now owns 166,204 shares of the social networking company’s stock worth $95,142,000 after acquiring an additional 3,622 shares in the last quarter. Kirtland Hills Capital Management LLC grew its stake in Meta Platforms by 6.9% in the third quarter. Kirtland Hills Capital Management LLC now owns 4,433 shares of the social networking company’s stock valued at $2,537,000 after purchasing an additional 286 shares during the last quarter. Jennison Associates LLC raised its holdings in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares in the last quarter. Commerce Bank lifted its position in shares of Meta Platforms by 1.8% during the third quarter. Commerce Bank now owns 271,056 shares of the social networking company’s stock valued at $155,163,000 after buying an additional 4,916 shares during the last quarter. Finally, Prospera Private Wealth LLC boosted its holdings in shares of Meta Platforms by 252.0% in the 3rd quarter. Prospera Private Wealth LLC now owns 5,065 shares of the social networking company’s stock valued at $2,900,000 after buying an additional 3,626 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,843 shares of company stock worth $92,083,554 in the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Down 0.7 %

Shares of Meta Platforms stock opened at $559.14 on Friday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The firm’s 50-day moving average price is $572.74 and its 200 day moving average price is $523.96. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a P/E/G ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping 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. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on META shares. Truist Financial boosted their price objective on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Tigress Financial increased their price objective on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. BMO Capital Markets boosted their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Get Our Latest Research Report on Meta Platforms

Meta Platforms Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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