Financial Avengers Inc. Has $582,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Financial Avengers Inc. increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,017 shares of the social networking company’s stock after acquiring an additional 116 shares during the period. Meta Platforms accounts for about 0.3% of Financial Avengers Inc.’s holdings, making the stock its 28th largest position. Financial Avengers Inc.’s holdings in Meta Platforms were worth $582,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in META. GPS Wealth Strategies Group LLC increased its holdings in shares of Meta Platforms by 9.6% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 6,428 shares of the social networking company’s stock valued at $3,241,000 after acquiring an additional 565 shares during the last quarter. Tsfg LLC increased its holdings in shares of Meta Platforms by 11.5% during the 2nd quarter. Tsfg LLC now owns 1,321 shares of the social networking company’s stock valued at $666,000 after acquiring an additional 136 shares during the last quarter. Cedar Point Capital Partners LLC increased its holdings in shares of Meta Platforms by 4.8% during the 2nd quarter. Cedar Point Capital Partners LLC now owns 714 shares of the social networking company’s stock valued at $360,000 after acquiring an additional 33 shares during the last quarter. Key Client Fiduciary Advisors LLC boosted its stake in Meta Platforms by 9.6% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 2,045 shares of the social networking company’s stock valued at $1,031,000 after purchasing an additional 179 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Meta Platforms by 6.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 137,014 shares of the social networking company’s stock valued at $69,085,000 after purchasing an additional 8,012 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on META shares. Barclays increased their target price on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt increased their target price on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America increased their target price on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Guggenheim increased their target price on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. Two equities 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 issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $635.20.

Insider Activity at Meta Platforms

In other news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. This trade represents a 14.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the completion of the sale, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. This trade represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,201 shares of company stock valued at $95,420,559 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.9 %

META stock opened at $619.32 on Wednesday. The business has a fifty day moving average price of $581.32 and a 200 day moving average price of $535.09. Meta Platforms, Inc. has a fifty-two week low of $319.99 and a fifty-two week high of $629.79. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.17, a P/E/G 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.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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. 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 during the quarter, compared to analysts’ expectations of $40.21 billion. 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 issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s dividend payout ratio is 9.42%.

Meta Platforms 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.