Stonekeep Investments LLC Has $868,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Stonekeep Investments LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,516 shares of the social networking company’s stock after purchasing an additional 34 shares during the quarter. Meta Platforms comprises approximately 0.7% of Stonekeep Investments LLC’s investment portfolio, making the stock its 25th largest holding. Stonekeep Investments LLC’s holdings in Meta Platforms were worth $868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares in the last quarter. Capital World Investors grew its stake in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares in the last quarter. Capital Research Global Investors grew its stake in shares of 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 in the last quarter. Jennison Associates LLC raised its holdings in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC lifted its position in shares of Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $589.95 on Monday. The firm has a 50 day simple moving average of $538.12 and a two-hundred day simple moving average of $505.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market cap of $1.50 trillion, a PE ratio of 33.89, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the firm posted $3.23 EPS. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity

In other news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the sale, the insider now directly owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,443 shares of company stock valued at $133,105,284. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Roth Mkm upped their price objective on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group increased their price target on Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Evercore ISI lifted their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. BMO Capital Markets upped their price objective on Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $609.71.

Check Out 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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