Pine Valley Investments Ltd Liability Co Purchases 287 Shares of Meta Platforms, Inc. (NASDAQ:META)

Pine Valley Investments Ltd Liability Co raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 26,056 shares of the social networking company’s stock after buying an additional 287 shares during the period. Meta Platforms makes up approximately 0.9% of Pine Valley Investments Ltd Liability Co’s portfolio, making the stock its 16th largest position. Pine Valley Investments Ltd Liability Co’s holdings in Meta Platforms were worth $14,915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LifeSteps Financial Inc. lifted its position in Meta Platforms by 8.4% during the 2nd quarter. LifeSteps Financial Inc. now owns 900 shares of the social networking company’s stock worth $454,000 after buying an additional 70 shares in the last quarter. Aurora Private Wealth Inc. raised its holdings in Meta Platforms by 3.5% during the second quarter. Aurora Private Wealth Inc. now owns 5,033 shares of the social networking company’s stock worth $2,538,000 after acquiring an additional 168 shares in the last quarter. Abundance Wealth Counselors increased its position in shares of Meta Platforms by 1.3% during the 2nd quarter. Abundance Wealth Counselors now owns 5,609 shares of the social networking company’s stock worth $2,828,000 after purchasing an additional 72 shares during the last quarter. AlphaMark Advisors LLC raised its stake in shares of Meta Platforms by 3.1% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the social networking company’s stock worth $678,000 after purchasing an additional 41 shares in the last quarter. Finally, High Net Worth Advisory Group LLC boosted its holdings in shares of Meta Platforms by 13.9% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 4,074 shares of the social networking company’s stock valued at $2,054,000 after buying an additional 496 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 2.2 %

Shares of META stock opened at $632.68 on Thursday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.60 trillion, a P/E ratio of 29.80, a P/E/G ratio of 1.37 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $324.56 and a twelve month high of $638.40. The stock’s fifty day simple moving average is $582.52 and its 200 day simple moving average is $535.78.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio is 9.42%.

Wall Street Analysts Forecast Growth

META has been the topic of several research analyst reports. Scotiabank dropped their price objective on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. TD Cowen raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Mizuho upped their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JMP Securities raised their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, KeyCorp boosted their price objective on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $635.20.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total transaction of $486,636.60. Following the transaction, the insider now owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The trade was a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,510 shares of company stock worth $126,396,359 over the last three months. Company insiders own 13.71% of the company’s stock.

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.