MCIA Inc Has $343,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

MCIA Inc increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7.7% during the third quarter, Holdings Channel.com reports. The fund owned 586 shares of the social networking company’s stock after purchasing an additional 42 shares during the quarter. MCIA Inc’s holdings in Meta Platforms were worth $343,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Lindenwold Advisors INC increased its holdings in Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after buying an additional 17 shares during the period. Central Valley Advisors LLC boosted its stake in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC boosted its position in 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 worth $2,199,000 after buying an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its position 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 period. Finally, Kozak & Associates Inc. boosted its position 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 period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Up 2.4 %

Shares of NASDAQ META opened at $623.77 on Friday. Meta Platforms, Inc. has a one year low of $317.77 and a one year high of $629.79. 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 $579.64 and its two-hundred day simple moving average is $532.13. The stock has a market capitalization of $1.57 trillion, a P/E ratio of 29.38, a PEG ratio of 1.35 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm 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%. As a group, analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Scotiabank dropped their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Barclays boosted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Tigress Financial upped their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Get Our Latest Report on Meta Platforms

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’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 $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,160 shares of company stock valued at $81,611,223 over the last quarter. 13.71% of the stock is owned by company insiders.

About Meta Platforms

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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