Raelipskie Partnership Has $1.92 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Raelipskie Partnership grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,346 shares of the social networking company’s stock after purchasing an additional 230 shares during the quarter. Meta Platforms comprises about 0.9% of Raelipskie Partnership’s investment portfolio, making the stock its 25th biggest position. Raelipskie Partnership’s holdings in Meta Platforms were worth $1,915,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted 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 worth $7,915,451,000 after buying an additional 118,298 shares during the period. LS Investment Advisors LLC boosted its holdings in Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares during the period. Gradient Investments LLC grew its holdings in Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after buying an additional 5,953 shares during the last quarter. Cutter & CO Brokerage Inc. grew its stake in shares of Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after acquiring an additional 65 shares during the last quarter. Finally, Stanley Laman Group Ltd. grew its position in Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after purchasing an additional 352 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $623.77 on Monday. Meta Platforms, Inc. has a fifty-two week low of $317.77 and a fifty-two week high of $629.79. The stock has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 29.38, a PEG ratio of 1.37 and a beta of 1.20. 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 business has a 50-day moving average of $579.64 and a 200-day moving average of $533.06.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on META shares. Wells Fargo & Company lowered their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Sanford C. Bernstein boosted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 142,160 shares of company stock worth $81,611,223 over the last quarter. 13.71% of the stock is currently owned by insiders.

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.