Terra Nova Asset Management LLC Purchases 44 Shares of Meta Platforms, Inc. (NASDAQ:META)

Terra Nova Asset Management LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,244 shares of the social networking company’s stock after acquiring an additional 44 shares during the period. Meta Platforms comprises approximately 1.8% of Terra Nova Asset Management LLC’s holdings, making the stock its 24th largest holding. Terra Nova Asset Management LLC’s holdings in Meta Platforms were worth $2,430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bath Savings Trust Co bought a new position in shares of Meta Platforms in the 1st quarter worth about $218,000. jvl associates llc boosted its position in Meta Platforms by 6.9% during the 1st quarter. jvl associates llc now owns 777 shares of the social networking company’s stock valued at $377,000 after acquiring an additional 50 shares in the last quarter. Emprise Bank acquired a new stake in Meta Platforms in the first quarter valued at approximately $1,801,000. Neville Rodie & Shaw Inc. raised its position in shares of Meta Platforms by 13.8% in the 1st quarter. Neville Rodie & Shaw Inc. now owns 15,055 shares of the social networking company’s stock valued at $7,310,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Abner Herrman & Brock LLC boosted its position in Meta Platforms by 39.2% in the first quarter. Abner Herrman & Brock LLC now owns 15,990 shares of the social networking company’s stock valued at $7,764,000 after buying an additional 4,499 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on META shares. Citigroup increased their target price on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Truist Financial boosted their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Pivotal Research assumed coverage on Meta Platforms in a research note on Tuesday, October 1st. They set a “buy” rating and a $780.00 price target for the company. Finally, Sanford C. Bernstein increased their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $613.71.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total transaction of $443,269.00. Following the completion of the transaction, the insider now directly owns 35,130 shares of the company’s stock, valued at approximately $17,206,674. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total transaction of $190,756.00. Following the transaction, the chief operating officer now owns 5,559 shares in the company, valued at approximately $2,573,817. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the transaction, the insider now owns 35,130 shares of the company’s stock, valued at approximately $17,206,674. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,911 shares of company stock worth $131,887,905 in the last 90 days. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Down 1.6 %

Shares of Meta Platforms stock opened at $576.79 on Thursday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company’s 50-day simple moving average is $544.01 and its 200-day simple moving average is $507.60. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $38.26 billion. During the same period last year, the business earned $3.23 EPS. The business’s revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued 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 is currently 11.49%.

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.