United Advisor Group LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 8.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,806 shares of the social networking company’s stock after buying an additional 964 shares during the quarter. Meta Platforms accounts for approximately 0.9% of United Advisor Group LLC’s portfolio, making the stock its 21st biggest position. United Advisor Group LLC’s holdings in Meta Platforms were worth $9,286,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of META. OPTIMAS CAPITAL Ltd bought a new position in shares of Meta Platforms in the third quarter valued at approximately $1,189,000. Prudent Man Investment Management Inc. increased its position in shares of Meta Platforms by 116.7% during the third quarter. Prudent Man Investment Management Inc. now owns 52 shares of the social networking company’s stock valued at $38,000 after acquiring an additional 28 shares during the last quarter. May Hill Capital LLC increased its position in shares of Meta Platforms by 7.8% during the third quarter. May Hill Capital LLC now owns 6,419 shares of the social networking company’s stock valued at $4,655,000 after acquiring an additional 465 shares during the last quarter. Cannon Capital Management Inc. purchased a new stake in shares of Meta Platforms during the third quarter valued at approximately $221,000. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Meta Platforms during the third quarter valued at approximately $9,127,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
More Meta Platforms News
Here’s some of the latest news about META:
- Positive Sentiment: JPMorgan named Meta its preferred internet stock, citing AI’s contribution to advertising performance and potential growth in Family of Apps ad revenue. Article: Meta Platforms Wins JPMorgan Backing
- Positive Sentiment: Meta launched its Muse AI agent on Apple Watch and Wear OS, adding voice and text access that could broaden use of its assistant. Article: Meta’s AI agent Muse lands on Apple Watch
- Negative Sentiment: United Airlines barred AI agents from booking flights, raising doubts about a prominent potential use for Meta’s Muse agent and weighing on sentiment toward the company’s AI ambitions. Article: United Airlines bars AI agents from booking tickets
Insider Transactions at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 946 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $614.15, for a total value of $580,985.90. Following the sale, the chief operating officer directly owned 4,094 shares in the company, valued at $2,514,330.10. The trade was a 18.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 149,398 shares of company stock valued at $102,134,435 over the last three months. Company insiders own 13.42% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently commented on META shares. Tigress Financial reiterated a “strong-buy” rating and set a $945.00 price target (down from $995.00) on shares of Meta Platforms in a report on Thursday, September 24th. China Renaissance reduced their price objective on Meta Platforms from $825.00 to $700.00 and set a “buy” rating for the company in a research note on Friday, July 31st. DZ Bank reaffirmed a “buy” rating on shares of Meta Platforms in a research report on Thursday, July 30th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, August 27th. Finally, Robert W. Baird lowered their target price on Meta Platforms from $830.00 to $750.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $833.12.
View Our Latest Analysis on META
Meta Platforms Trading Down 2.0%
Shares of META stock opened at $628.77 on Thursday. The company has a 50 day moving average of $678.62 and a 200-day moving average of $632.12. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.30. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $779.82. The firm has a market cap of $1.61 trillion, a P/E ratio of 21.44, a PEG ratio of 1.11 and a beta of 1.28.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.86. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The company had revenue of $64.60 billion for the quarter, compared to analysts’ expectations of $63.34 billion. During the same quarter in the previous year, the firm posted $7.25 EPS. Meta Platforms’s revenue was up 26.1% on a year-over-year basis. Sell-side analysts anticipate that Meta Platforms, Inc. will post 29.01 earnings per share for the current year.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, September 21st were given a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms’s dividend payout ratio (DPR) is currently 7.16%.
Meta Platforms Profile
Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.
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