Yelin Lapidot Holdings Management Ltd. Buys 921 Shares of Meta Platforms, Inc. $META
by Teresa Graham · The Cerbat GemYelin Lapidot Holdings Management Ltd. lifted its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,837 shares of the social networking company’s stock after purchasing an additional 921 shares during the period. Meta Platforms accounts for 5.2% of Yelin Lapidot Holdings Management Ltd.’s portfolio, making the stock its 5th largest position. Yelin Lapidot Holdings Management Ltd.’s holdings in Meta Platforms were worth $24,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently bought and sold shares of META. Bare Financial Services Inc acquired a new position in shares of Meta Platforms during the second quarter valued at $30,000. Evergreen Private Wealth LLC raised its holdings in Meta Platforms by 237.5% during the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after purchasing an additional 38 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in Meta Platforms during the 2nd quarter valued at about $42,000. Knuff & Co LLC bought a new position in shares of Meta Platforms in the 2nd quarter valued at about $44,000. Finally, WFA Asset Management Corp boosted its stake in shares of Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Stock Down 2.2%
Meta Platforms stock traded down $13.35 during trading on Tuesday, hitting $606.90. 2,007,120 shares of the company were exchanged, compared to its average volume of 12,703,542. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $640.79 and its 200 day moving average is $699.31. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The company has a market capitalization of $1.53 trillion, a P/E ratio of 26.86, a PEG ratio of 1.22 and a beta of 1.29.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. The firm had revenue of $51.24 billion during 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 was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.03 EPS. Analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.28%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on META shares. Raymond James Financial restated a “strong-buy” rating and issued a $825.00 price objective (down from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. Benchmark cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, October 30th. Guggenheim reduced their price target on Meta Platforms from $875.00 to $800.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Cowen reaffirmed a “buy” rating on shares of Meta Platforms in a research note on Tuesday, January 13th. Finally, Wells Fargo & Company cut their target price on Meta Platforms from $802.00 to $795.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $822.96.
View Our Latest Stock Report on Meta Platforms
Insider Transactions at Meta Platforms
In other news, CTO Andrew Bosworth sold 11,690 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 2,610 shares of Meta Platforms stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the sale, the chief operating officer owned 9,784 shares in the company, valued at $5,962,956.64. This trade represents a 21.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 39,535 shares of company stock worth $24,382,453. 13.61% of the stock is owned by insiders.
About Meta Platforms
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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