Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Regal Partners Ltd

Regal Partners Ltd boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 14.0% during the third quarter, Holdings Channel.com reports. The fund owned 73,576 shares of the social networking company’s stock after purchasing an additional 9,011 shares during the quarter. Meta Platforms comprises 3.7% of Regal Partners Ltd’s investment portfolio, making the stock its 9th biggest position. Regal Partners Ltd’s holdings in Meta Platforms were worth $42,118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Valley Advisors LLC raised its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after buying an additional 18 shares during the period. Cherrydale Wealth Management LLC increased its stake in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC raised its position in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares during the period. Kozak & Associates Inc. lifted its stake in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $528.38, for a total value of $478,183.90. Following the completion of the transaction, the insider now owns 40,532 shares in the company, valued at $21,416,298.16. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock worth $84,533,106 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 4.0 %

META opened at $554.08 on Friday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22. The business’s 50-day simple moving average is $568.11 and its 200-day simple moving average is $520.60.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent analyst reports. Citigroup upped their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. TD Cowen lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Susquehanna lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. Two investment 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 assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average 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.