Bowie Capital Management LLC Acquires 16,727 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bowie Capital Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,747 shares of the social networking company’s stock after buying an additional 16,727 shares during the period. Meta Platforms makes up approximately 5.0% of Bowie Capital Management LLC’s holdings, making the stock its 8th largest position. Bowie Capital Management LLC’s holdings in Meta Platforms were worth $96,025,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in META. Jennison Associates LLC boosted its holdings in shares of Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after acquiring an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. International Assets Investment Management LLC increased its position in Meta Platforms by 57,001.5% during the 3rd 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 purchasing an additional 9,500,444 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after buying an additional 208,677 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Meta Platforms by 4.6% in the 3rd quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock valued at $3,758,146,000 after buying an additional 289,207 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the sale, the chief operating officer now owns 19,579 shares in the company, valued at $11,018,473.83. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,656 shares of company stock valued at $61,933,867. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on META. Roth Mkm increased their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Guggenheim upped their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, UBS Group boosted their price target on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.71.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $573.54 on Wednesday. The business’s fifty day moving average price is $573.38 and its 200 day moving average price is $525.35. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Meta Platforms Company 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.