Morton Capital Management LLC CA Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Morton Capital Management LLC CA boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 25.0% 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 owned 2,347 shares of the social networking company’s stock after buying an additional 469 shares during the quarter. Morton Capital Management LLC CA’s holdings in Meta Platforms were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of META. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter worth $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms in the third quarter valued at $49,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on META. Roth Mkm upped their price objective on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Raymond James lifted their price objective on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday. BMO Capital Markets increased their target price on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $608.58.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction 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 sale, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 266,412 shares of company stock worth $140,058,708. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Down 0.3 %

META opened at $588.87 on Thursday. The firm’s fifty day moving average is $534.36 and its 200 day moving average is $504.36. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The stock has a market cap of $1.49 trillion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the company earned $3.23 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.