Dunhill Financial LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Dunhill Financial LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 176.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,532 shares of the social networking company’s stock after acquiring an additional 977 shares during the period. Meta Platforms makes up 0.5% of Dunhill Financial LLC’s holdings, making the stock its 28th biggest holding. Dunhill Financial LLC’s holdings in Meta Platforms were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. Jennison Associates LLC increased its stake in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Meta Platforms by 57,001.5% during 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 buying an additional 9,500,444 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Meta Platforms by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after purchasing an additional 208,677 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Meta Platforms by 4.6% during the third quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock worth $3,758,146,000 after purchasing an additional 289,207 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,160 shares of company stock worth $81,611,223. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Up 2.4 %

Shares of META stock opened at $623.77 on Friday. The stock has a market cap of $1.57 trillion, a P/E ratio of 29.38, a P/E/G ratio of 1.35 and a beta of 1.20. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a fifty-two week low of $317.77 and a fifty-two week high of $629.79. The business has a fifty day simple moving average of $579.64 and a 200-day simple moving average of $532.13.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $40.21 billion. On average, analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on META. Cantor Fitzgerald reissued an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Susquehanna boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Roth Mkm raised their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group upped their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $634.71.

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.