OneDigital Investment Advisors LLC Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

OneDigital Investment Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the third quarter, Holdings Channel reports. The fund owned 43,343 shares of the social networking company’s stock after purchasing an additional 188 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Meta Platforms were worth $24,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares in the last quarter. Capital Research Global Investors grew its position 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 buying an additional 4,379,826 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in Meta Platforms in the second quarter worth $595,152,000. Vanguard Group Inc. grew its stake in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Meta Platforms by 30.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after buying an additional 788,131 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 4.0 %

Shares of META opened at $554.08 on Monday. The stock has a 50 day moving average price of $568.11 and a 200 day moving average price of $521.17. 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 price-to-earnings ratio of 26.10, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.

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

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

META has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted 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. Mizuho upped their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Barclays lifted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total value of $8,906,174.48. Following the transaction, the chief executive officer now directly owns 28,838 shares in the company, valued at $15,377,575.12. The trade was a 36.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $528.38, for a total transaction of $478,183.90. Following the sale, the insider now owns 40,532 shares of the company’s stock, valued at $21,416,298.16. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,498 shares of company stock worth $75,732,154 in the last three months. 13.71% of the stock is owned by corporate insiders.

Meta Platforms 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.