Encompass More Asset Management Acquires 1,263 Shares of Meta Platforms, Inc. (NASDAQ:META)

Encompass More Asset Management raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 155.2% during the third quarter, HoldingsChannel.com reports. The firm owned 2,077 shares of the social networking company’s stock after buying an additional 1,263 shares during the period. Encompass More Asset Management’s holdings in Meta Platforms were worth $1,189,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in META. Jennison Associates LLC boosted its position in Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after buying an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares in the last quarter. International Assets Investment Management LLC raised its position in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Meta Platforms by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after buying an additional 208,677 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Meta Platforms by 4.6% during the third quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock worth $3,758,146,000 after purchasing an additional 289,207 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00. Following the sale, the insider now owns 38,722 shares of the company’s stock, valued at $20,135,440. The trade was a 2.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 106,239 shares of company stock worth $59,681,541. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on META shares. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Tigress Financial increased their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Rosenblatt Securities restated a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Roth Mkm boosted their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, four have given 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Trading Up 0.9 %

Shares of Meta Platforms stock opened at $574.32 on Friday. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.25 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The stock has a 50 day moving average of $575.21 and a 200 day moving average of $527.37.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 22.62 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. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.