Meta Platforms, Inc. (NASDAQ:META) is Mission Creek Capital Partners Inc.’s 10th Largest Position

Mission Creek Capital Partners Inc. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,950 shares of the social networking company’s stock after acquiring an additional 536 shares during the period. Meta Platforms accounts for about 1.7% of Mission Creek Capital Partners Inc.’s investment portfolio, making the stock its 10th biggest holding. Mission Creek Capital Partners Inc.’s holdings in Meta Platforms were worth $7,413,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms during the third quarter valued at approximately $46,000. West Financial Advisors LLC acquired a new stake in Meta Platforms in the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC increased its position in shares of Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Up 3.5 %

Shares of META stock opened at $613.65 on Wednesday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $614.20. The stock has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.90, a PEG ratio of 1.30 and a beta of 1.20. The company’s 50-day moving average price is $575.78 and its 200-day moving average price is $528.92. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate 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%. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.68 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. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on META shares. JMP Securities boosted their target price on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Barclays boosted their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. UBS Group increased their price objective on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, TD Cowen lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $634.71.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $522.00, for a total value of $215,586.00. Following the completion of the sale, the chief operating officer now owns 13,598 shares in the company, valued at approximately $7,098,156. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,334 shares of company stock valued at $59,210,941 in the last quarter. Insiders own 13.71% of the company’s stock.

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.