Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Tower Bridge Advisors

Tower Bridge Advisors raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,839 shares of the social networking company’s stock after acquiring an additional 361 shares during the period. Meta Platforms accounts for approximately 1.1% of Tower Bridge Advisors’ portfolio, making the stock its 29th largest position. Tower Bridge Advisors’ holdings in Meta Platforms were worth $10,212,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in META. China Universal Asset Management Co. Ltd. increased its holdings in shares of Meta Platforms by 48.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after acquiring an additional 16,138 shares during the period. Empowered Funds LLC increased its stake in Meta Platforms by 22.4% in the first quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock valued at $32,629,000 after purchasing an additional 12,301 shares during the period. Cypress Asset Management Inc. TX raised its holdings in shares of Meta Platforms by 541.8% in the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after buying an additional 3,224 shares during the last quarter. Evolutionary Tree Capital Management LLC acquired a new stake in shares of Meta Platforms during the first quarter worth about $2,607,000. Finally, Point Break Capital Management LLC purchased a new position in shares of Meta Platforms during the first quarter worth about $2,481,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.2 %

Shares of META opened at $561.09 on Wednesday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a market capitalization of $1.42 trillion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The stock has a fifty day moving average of $570.23 and a two-hundred day moving average of $522.73. 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 (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 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 firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 14,746 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.53, for a total value of $8,162,353.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 620 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 value of $345,340.00. Following the sale, the chief operating officer now directly owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This trade represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,958 shares of company stock worth $101,181,747. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Roth Mkm increased their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Raymond James lifted their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Guggenheim upped their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Barclays lifted their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Scotiabank cut their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Two equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $634.10.

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.