DLK Investment Management LLC Has $1.13 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

DLK Investment Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,972 shares of the social networking company’s stock after purchasing an additional 41 shares during the quarter. DLK Investment Management LLC’s holdings in Meta Platforms were worth $1,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Delos Wealth Advisors LLC raised its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the second quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in Meta Platforms during the third quarter valued at about $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on META. Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price objective on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $660.00 price objective on shares of Meta Platforms in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $609.71.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 252,443 shares of company stock worth $133,105,284. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Meta Platforms stock traded up $1.41 during trading on Friday, reaching $585.24. The company had a trading volume of 3,232,280 shares, compared to its average volume of 15,334,787. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $536.08 and its 200 day simple moving average is $504.92. The firm has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the company posted $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. 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 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 10.21%.

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.