MCIA Inc Purchases 42 Shares of Meta Platforms, Inc. (NASDAQ:META)

MCIA Inc increased its position in Meta Platforms, Inc. (NASDAQ:META) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 586 shares of the social networking company’s stock after acquiring an additional 42 shares during the quarter. MCIA Inc’s holdings in Meta Platforms were worth $343,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of META. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth about $36,000. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. increased its holdings 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 purchasing an additional 44 shares during the period. Halpern Financial Inc. bought a new position in shares of Meta Platforms during the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth about $49,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 2.4 %

META opened at $623.77 on Friday. Meta Platforms, Inc. has a fifty-two week low of $317.77 and a fifty-two week high of $629.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market cap of $1.57 trillion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. The firm has a 50 day simple moving average of $579.64 and a 200 day simple moving average of $532.13.

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 the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Analysts Set New Price Targets

Several research firms have recently issued reports on META. Roth Mkm boosted their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Thursday, October 31st. TD Cowen upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Guggenheim upped their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,160 shares of company stock valued at $81,611,223 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.