Pinpoint Asset Management Singapore Pte. Ltd. Invests $1.36 Million in Meta Platforms, Inc. $META

Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the second quarter, Holdings Channel reports. The firm acquired 1,842 shares of the social networking company’s stock, valued at approximately $1,360,000.

Several other large investors also recently added to or reduced their stakes in META. Brighton Jones LLC boosted its position in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Meta Platforms by 10.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after purchasing an additional 875 shares during the last quarter. Smart Money Group LLC raised its stake in Meta Platforms by 20.4% in the first quarter. Smart Money Group LLC now owns 2,052 shares of the social networking company’s stock valued at $1,182,000 after purchasing an additional 348 shares in the last quarter. Aspire Growth Partners LLC lifted its position in Meta Platforms by 7.3% during the first quarter. Aspire Growth Partners LLC now owns 662 shares of the social networking company’s stock valued at $395,000 after purchasing an additional 45 shares during the last quarter. Finally, Waddell & Associates LLC grew its stake in Meta Platforms by 5.0% in the 1st quarter. Waddell & Associates LLC now owns 2,508 shares of the social networking company’s stock worth $1,446,000 after buying an additional 119 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on META shares. Monness Crespi & Hardt lowered their price objective on shares of Meta Platforms from $860.00 to $808.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. UBS Group upped their target price on shares of Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Piper Sandler lowered their price target on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Rosenblatt Securities lifted their price target on Meta Platforms from $1,086.00 to $1,117.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $900.00 price objective on shares of Meta Platforms in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $819.43.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $642.22, for a total value of $333,312.18. Following the sale, the insider directly owned 30,734 shares in the company, valued at approximately $19,737,989.48. This trade represents a 1.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $639.03, for a total value of $330,378.51. Following the transaction, the chief operating officer directly owned 14,268 shares in the company, valued at $9,117,680.04. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 41,959 shares of company stock valued at $26,671,107 over the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Up 3.4%

Shares of Meta Platforms stock opened at $661.53 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company’s 50 day moving average price is $674.56 and its 200-day moving average price is $705.81. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 1.34 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The company had revenue of $51.24 billion during the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The firm’s revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.03 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 15th. Meta Platforms’s dividend payout ratio is currently 9.28%.

About Meta Platforms

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.