Simon Quick Advisors LLC Increases Stock Position in Meta Platforms, Inc. $META

Simon Quick Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 5.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,706 shares of the social networking company’s stock after purchasing an additional 1,056 shares during the period. Meta Platforms accounts for 0.7% of Simon Quick Advisors LLC’s holdings, making the stock its 27th biggest holding. Simon Quick Advisors LLC’s holdings in Meta Platforms were worth $14,472,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its position in shares of Meta Platforms by 608,429.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after acquiring an additional 59,766,000 shares in the last quarter. Norges Bank purchased a new position in Meta Platforms in the second quarter valued at about $23,155,393,000. Laurel Wealth Advisors LLC raised its holdings in Meta Platforms by 73,443.1% in the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock worth $6,212,506,000 after purchasing an additional 8,405,558 shares in the last quarter. State Street Corp lifted its position in shares of Meta Platforms by 1.9% during the second quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock valued at $64,158,971,000 after buying an additional 1,650,435 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Meta Platforms by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after buying an additional 1,532,568 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.4%

Meta Platforms stock opened at $646.06 on Friday. The business’s 50-day simple moving average is $641.17 and its two-hundred day simple moving average is $703.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market cap of $1.63 trillion, a PE ratio of 28.54, a PEG ratio of 1.28 and a beta of 1.29. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The firm had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter in the previous year, the company posted $6.03 earnings per share. The company’s revenue was up 26.2% compared to the same quarter last year. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were paid a $0.525 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is presently 9.28%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 580 shares of Meta Platforms stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $646.00, for a total transaction of $374,680.00. Following the completion of the transaction, the director owned 6,167 shares in the company, valued at approximately $3,983,882. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 517 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $650.41, for a total value of $336,261.97. Following the completion of the transaction, the chief operating officer directly owned 11,683 shares of the company’s stock, valued at approximately $7,598,740.03. This trade represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,555 shares of company stock worth $25,869,502 over the last 90 days. 13.61% of the stock is currently owned by company insiders.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Analyst Ratings Changes

Several research firms recently commented on META. Guggenheim reduced their price objective on shares of Meta Platforms from $875.00 to $800.00 and set a “buy” rating for the company in a research note on Thursday. Citizens Jmp reiterated an “outperform” rating and set a $900.00 price objective (up previously from $750.00) on shares of Meta Platforms in a report on Monday, November 24th. Benchmark cut Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, October 30th. Raymond James Financial restated a “strong-buy” rating and set a $825.00 target price (down from $900.00) on shares of Meta Platforms in a research note on Thursday, October 30th. Finally, KeyCorp decreased their price target on Meta Platforms from $905.00 to $875.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $822.89.

Read Our Latest Analysis on Meta Platforms

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

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

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