Truepoint Inc. Invests $406,000 in Meta Platforms, Inc. (NASDAQ:META)

Truepoint Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 709 shares of the social networking company’s stock, valued at approximately $406,000.

Several other hedge funds have also bought and sold shares of META. Lindenwold Advisors INC grew its position in shares of Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares during the last quarter. Central Valley Advisors LLC increased its position in shares of 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 worth $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC lifted its holdings in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after purchasing an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC grew its stake in Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. grew its stake in Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. JMP Securities boosted their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research note on Wednesday, October 16th. Finally, Barclays increased their price objective on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Insider Buying and Selling

In other news, COO Javier Olivan sold 620 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the transaction, the chief operating officer now owns 19,992 shares in the company, valued at approximately $11,135,544. This represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,218 shares of company stock worth $65,819,414 over the last 90 days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 1.1 %

Shares of Meta Platforms stock opened at $565.11 on Tuesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a market capitalization of $1.43 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a 50 day moving average of $573.38 and a 200 day moving average of $525.35.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.