Meta Platforms, Inc. (NASDAQ:META) is Integrated Investment Consultants LLC’s Largest Position

Integrated Investment Consultants LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 61,769.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,132,870 shares of the social networking company’s stock after purchasing an additional 4,126,190 shares during the quarter. Meta Platforms comprises approximately 53.7% of Integrated Investment Consultants LLC’s portfolio, making the stock its biggest holding. Integrated Investment Consultants LLC owned approximately 0.16% of Meta Platforms worth $2,365,820,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Lindenwold Advisors INC raised its stake in Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after buying an additional 17 shares during the last quarter. Central Valley Advisors LLC increased its position in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC lifted its holdings in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted 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 worth $1,595,000 after purchasing an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. grew its stake in shares of Meta Platforms by 1.0% during 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 period. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on META. Piper Sandler increased their price objective on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. JMP Securities increased their price target on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Scotiabank cut their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Guggenheim raised their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, UBS Group boosted their price target on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Trading Down 0.7 %

META opened at $559.14 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 cap of $1.41 trillion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 1.25 and a beta of 1.22. The stock’s 50 day moving average price is $572.74 and its 200-day moving average price is $524.35.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 620 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00. Following the completion of the sale, the chief operating officer now directly owns 19,992 shares of the company’s stock, valued at $11,135,544. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,843 shares of company stock valued at $92,083,554. 13.71% of the stock is currently owned by company insiders.

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.