Meeder Asset Management Inc. Has $61.62 Million Position in Meta Platforms, Inc. $META

Meeder Asset Management Inc. increased its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,909 shares of the social networking company’s stock after buying an additional 14,426 shares during the period. Meta Platforms accounts for approximately 3.5% of Meeder Asset Management Inc.’s holdings, making the stock its 6th biggest holding. Meeder Asset Management Inc.’s holdings in Meta Platforms were worth $61,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. raised its stake in shares of Meta Platforms by 3.5% in the third quarter. Meeder Advisory Services Inc. now owns 47,963 shares of the social networking company’s stock worth $35,223,000 after acquiring an additional 1,632 shares during the last quarter. Lodestone Wealth Management LLC grew its stake in shares of Meta Platforms by 1.6% during the third quarter. Lodestone Wealth Management LLC now owns 3,537 shares of the social networking company’s stock valued at $2,598,000 after purchasing an additional 55 shares during the last quarter. Vantage Point Financial LLC increased its holdings in shares of Meta Platforms by 2.5% in the third quarter. Vantage Point Financial LLC now owns 1,314 shares of the social networking company’s stock valued at $965,000 after purchasing an additional 32 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Meta Platforms by 0.3% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 221,330 shares of the social networking company’s stock worth $162,456,000 after purchasing an additional 768 shares during the last quarter. Finally, Marquette Asset Management LLC raised its position in Meta Platforms by 545.7% in the 3rd quarter. Marquette Asset Management LLC now owns 226 shares of the social networking company’s stock worth $166,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on META. Citigroup reissued a “buy” rating on shares of Meta Platforms in a research note on Thursday, December 4th. Raymond James Financial reiterated a “strong-buy” rating and issued a $825.00 price target (down previously from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. BNP Paribas Exane assumed coverage on Meta Platforms in a research report on Monday, November 24th. They issued an “outperform” rating and a $800.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and set a $900.00 price objective on shares of Meta Platforms in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of Meta Platforms from $875.00 to $800.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $822.96.

Get Our Latest Research Report on Meta Platforms

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 6,875 shares of Meta Platforms stock in a transaction dated Saturday, November 15th. The stock was sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the transaction, the chief financial officer owned 88,370 shares in the company, valued at $53,857,980.20. The trade was a 7.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the completion of the transaction, the chief technology officer owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 39,535 shares of company stock valued at $24,382,453. Insiders own 13.61% of the company’s stock.

Meta Platforms Stock Down 0.1%

Shares of NASDAQ META opened at $620.25 on Tuesday. The stock has a market cap of $1.56 trillion, a P/E ratio of 27.40, a P/E/G ratio of 1.22 and a beta of 1.29. The firm has a 50 day moving average price of $640.79 and a 200 day moving average price of $699.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.51. The company had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period last year, the business posted $6.03 earnings per share. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were issued a dividend of $0.525 per share. The ex-dividend date was Monday, December 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s payout ratio is currently 9.28%.

Key Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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