Hengehold Capital Management LLC Purchases Shares of 836 Meta Platforms, Inc. (NASDAQ:META)

Hengehold Capital Management LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 836 shares of the social networking company’s stock, valued at approximately $478,000.

A number of other hedge funds have also made changes to their positions in META. Central Valley Advisors LLC lifted its stake in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC raised its holdings in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after buying an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC lifted its position in shares of Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares during the last quarter. Firethorn Wealth Partners LLC boosted its stake in shares of Meta Platforms by 1.8% during the 3rd quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock worth $615,000 after acquiring an additional 19 shares in the last quarter. Finally, S.A. Mason LLC increased its holdings in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. Truist Financial boosted their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America upped their price objective on shares of Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Raymond James lifted their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. Stifel Nicolaus upped their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays lifted their price objective on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $617.37.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the transaction, the insider now directly owns 35,130 shares of the company’s stock, valued at $17,206,674. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $311,493,681. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the transaction, the insider now owns 35,130 shares in the company, valued at $17,206,674. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,816 shares of company stock valued at $132,421,828. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 0.0 %

Shares of META stock opened at $576.93 on Friday. The company has a market capitalization of $1.46 trillion, a P/E ratio of 33.14, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $545.36 and a 200 day moving average price of $508.09.

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

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

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.