Hedeker Wealth LLC Has $6.20 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Hedeker Wealth LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,833 shares of the social networking company’s stock after buying an additional 606 shares during the quarter. Meta Platforms comprises 1.6% of Hedeker Wealth LLC’s investment portfolio, making the stock its 19th largest holding. Hedeker Wealth LLC’s holdings in Meta Platforms were worth $6,201,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of META. Vanguard Group Inc. grew its position in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares during the period. Capital World Investors grew its position in Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital Research Global Investors grew its position in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Jennison Associates LLC grew its position in Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Finally, GQG Partners LLC grew its position in Meta Platforms by 3.1% in the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after acquiring an additional 342,742 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Robert W. Baird increased their target price on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday. Pivotal Research increased their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI increased their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday. Finally, Tigress Financial upped their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Two equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Down 0.1 %

NASDAQ:META opened at $567.16 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market cap of $1.43 trillion, a PE ratio of 26.72, a PEG ratio of 1.44 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $308.33 and a 52-week high of $602.95. The stock has a 50-day simple moving average of $555.99 and a 200 day simple moving average of $513.03.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 21.47 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total value of $252,071.40. Following the completion of the transaction, the chief executive officer now directly owns 518,004 shares in the company, valued at $310,890,460.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 420 shares of Meta Platforms stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total value of $252,071.40. Following the sale, the chief executive officer now directly owns 518,004 shares of the company’s stock, valued at approximately $310,890,460.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,993 shares of company stock worth $133,271,982 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

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.