Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by TAP Consulting LLC

by · The Cerbat Gem

TAP Consulting LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,123 shares of the social networking company’s stock after purchasing an additional 77 shares during the quarter. TAP Consulting LLC’s holdings in Meta Platforms were worth $1,215,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of META. Capital Research Global Investors lifted 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 during the period. Vanguard Group Inc. lifted its position in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Jennison Associates LLC lifted its position in 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 period. Sustainable Growth Advisers LP purchased a new stake in Meta Platforms in the 2nd quarter valued at approximately $595,152,000. Finally, Global Assets Advisory LLC acquired a new position in Meta Platforms during the 1st quarter worth approximately $515,383,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the subject of several recent analyst reports. TD Cowen raised their price target on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Sanford C. Bernstein boosted their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Bank of America upped their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Rosenblatt Securities raised their price objective on shares of Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $609.71.

Check Out Our Latest Stock Analysis on META

Meta Platforms Stock Up 1.0 %

Shares of META opened at $589.95 on Friday. The firm has a market cap of $1.49 trillion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company’s fifty day moving average is $538.12 and its two-hundred day moving average is $505.52. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results 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. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.23 earnings per share. Analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s payout ratio is 10.21%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total value of $453,785.10. Following the completion of the sale, the insider now owns 36,035 shares of the company’s stock, valued at $18,068,669.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $501.42, for a total transaction of $453,785.10. Following the transaction, the insider now directly owns 36,035 shares in the company, valued at approximately $18,068,669.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,443 shares of company stock valued at $133,105,284 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

(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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