TTP Investments Inc. Acquires 1,268 Shares of Meta Platforms, Inc. (NASDAQ:META)

TTP Investments Inc. raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.4% during the third quarter, Holdings Channel reports. The institutional investor owned 18,339 shares of the social networking company’s stock after buying an additional 1,268 shares during the quarter. Meta Platforms makes up about 3.6% of TTP Investments Inc.’s holdings, making the stock its 7th largest position. TTP Investments Inc.’s holdings in Meta Platforms were worth $10,498,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Delos Wealth Advisors LLC boosted its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% during the second 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 during the period. Richardson Financial Services Inc. raised its stake in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in Meta Platforms in the first quarter valued at about $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on META shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $660.00 price target on shares of Meta Platforms in a research note on Monday, October 7th. Wells Fargo & Company lifted their price objective on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Susquehanna increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. DA Davidson assumed coverage on Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $613.46.

Meta Platforms Stock Down 1.2 %

Shares of META traded down $7.16 during trading hours on Tuesday, hitting $583.26. The company had a trading volume of 4,147,177 shares, compared to its average volume of 15,269,884. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 1.45 and a beta of 1.22. The firm has a fifty day moving average price of $540.41 and a 200-day moving average price of $506.41. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the company earned $3.23 earnings per share. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.37 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. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is 11.49%.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total transaction of $533,850.45. Following the sale, the insider now directly owns 34,197 shares of the company’s stock, valued at $20,172,468.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total value of $533,850.45. Following the transaction, the insider now owns 34,197 shares of the company’s stock, valued at approximately $20,172,468.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,826 shares of company stock valued at $131,791,613. 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.