Meta Platforms, Inc. (NASDAQ:META) Shares Bought by RDA Financial Network

RDA Financial Network grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,107 shares of the social networking company’s stock after purchasing an additional 369 shares during the quarter. Meta Platforms makes up approximately 2.2% of RDA Financial Network’s portfolio, making the stock its 8th largest holding. RDA Financial Network’s holdings in Meta Platforms were worth $7,674,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC increased its stake in Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after purchasing an additional 4,126,190 shares during the last quarter. World Investment Advisors LLC lifted its position in Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the period. Geode Capital Management LLC boosted its stake in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after buying an additional 661,923 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.2 %

Shares of NASDAQ:META opened at $612.77 on Friday. The company’s fifty day moving average is $596.78 and its two-hundred day moving average is $556.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 1-year low of $370.95 and a 1-year high of $638.40. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Equities analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. Meta Platforms’s payout ratio is currently 9.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on META shares. Barclays raised their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. UBS Group lifted their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Rosenblatt Securities restated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $650.05.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the sale, the insider now owns 32,387 shares of the company’s stock, valued at $18,612,808.90. This trade represents a 2.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction 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. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 496,174 shares of company stock valued at $301,408,499 over the last three months. Company insiders own 13.71% of the company’s stock.

About Meta Platforms

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.