IHT Wealth Management LLC Boosts Position in Meta Platforms, Inc. (NASDAQ:META)

IHT Wealth Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 51.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,681 shares of the social networking company’s stock after acquiring an additional 17,849 shares during the period. Meta Platforms comprises 0.9% of IHT Wealth Management LLC’s holdings, making the stock its 18th biggest position. IHT Wealth Management LLC’s holdings in Meta Platforms were worth $30,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in META. Jennison Associates LLC lifted its holdings in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after acquiring an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Meta Platforms by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after purchasing an additional 208,677 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Meta Platforms by 4.6% during the third quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock worth $3,758,146,000 after buying an additional 289,207 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $522.00, for a total value of $215,586.00. Following the sale, the chief operating officer now owns 13,598 shares in the company, valued at approximately $7,098,156. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,334 shares of company stock valued at $59,210,941. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on META shares. Roth Mkm upped their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt upped their price target on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. TD Cowen raised their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Pivotal Research boosted their price objective on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Tigress Financial increased their target price on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Two investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Trading Up 0.3 %

Shares of NASDAQ:META traded up $1.50 during mid-day trading on Tuesday, reaching $594.33. 1,022,314 shares of the company were exchanged, compared to its average volume of 14,804,930. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. 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 firm’s 50-day simple moving average is $575.21 and its 200 day simple moving average is $528.08. The firm has a market cap of $1.50 trillion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 1.27 and a beta of 1.20.

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

Meta Platforms Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Meta Platforms Company Profile

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.