Versant Capital Management Inc Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Versant Capital Management Inc boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 10.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,779 shares of the social networking company’s stock after acquiring an additional 269 shares during the period. Versant Capital Management Inc’s holdings in Meta Platforms were worth $1,591,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC grew its holdings 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 purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. increased its stake in 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 buying an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in Meta Platforms in the third quarter worth approximately $46,000. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 1.9 %

META opened at $584.78 on Tuesday. 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, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The company has a fifty day moving average of $527.07 and a two-hundred day moving average of $502.63. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 33.59, a PEG ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 earnings per share. On average, research analysts expect that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 0.34%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JMP Securities boosted their target price on Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 26th. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Bank of America upped their target price on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. UBS Group boosted their price objective on Meta Platforms from $635.00 to $690.00 and gave the stock a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $601.08.

Insider Activity

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the completion of the transaction, the chief executive officer now directly owns 151,918 shares of the company’s stock, valued at $81,104,462.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the completion of the sale, the chief executive officer now directly owns 151,918 shares in the company, valued at approximately $81,104,462.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total value of $523,587.75. Following the transaction, the insider now directly owns 35,102 shares of the company’s stock, valued at $20,308,262.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 282,621 shares of company stock valued at $148,657,449. Insiders own 13.71% of the company’s stock.

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.