Donor Advised Charitable Giving Inc. Sells 4,000 Shares of Meta Platforms, Inc. (NASDAQ:META)

Donor Advised Charitable Giving Inc. reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 41.4% in the third quarter, HoldingsChannel.com reports. The firm owned 5,658 shares of the social networking company’s stock after selling 4,000 shares during the period. Meta Platforms comprises about 0.1% of Donor Advised Charitable Giving Inc.’s investment portfolio, making the stock its 7th biggest holding. Donor Advised Charitable Giving Inc.’s holdings in Meta Platforms were worth $3,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prospect Financial Services LLC boosted its stake in Meta Platforms by 41.9% during the 3rd quarter. Prospect Financial Services LLC now owns 3,792 shares of the social networking company’s stock valued at $2,171,000 after purchasing an additional 1,120 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC boosted its stake in shares of Meta Platforms by 8.7% during the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 2,483 shares of the social networking company’s stock worth $1,432,000 after acquiring an additional 199 shares in the last quarter. Magnus Financial Group LLC boosted its stake in shares of Meta Platforms by 5.7% during the 3rd quarter. Magnus Financial Group LLC now owns 9,550 shares of the social networking company’s stock worth $5,467,000 after acquiring an additional 519 shares in the last quarter. Luts & Greenleigh Group Inc. boosted its stake in shares of Meta Platforms by 12.3% during the 3rd quarter. Luts & Greenleigh Group Inc. now owns 1,357 shares of the social networking company’s stock worth $777,000 after acquiring an additional 149 shares in the last quarter. Finally, Investment Advisory Group LLC boosted its stake in shares of Meta Platforms by 9.6% during the 3rd quarter. Investment Advisory Group LLC now owns 2,813 shares of the social networking company’s stock worth $1,610,000 after acquiring an additional 246 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

NASDAQ META opened at $586.27 on Wednesday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.49 trillion, a PE ratio of 33.67, a P/E/G ratio of 1.45 and a beta of 1.22. The stock has a 50-day simple moving average of $542.26 and a 200 day simple moving average of $507.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping 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 business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the firm earned $3.23 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. Research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

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 dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the transaction, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $474.86, for a total value of $195,642.32. Following the completion of the transaction, the chief operating officer now owns 5,971 shares in the company, valued at $2,835,389.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the transaction, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,239 shares of company stock valued at $132,033,148. 13.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

META has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $660.00 price objective on shares of Meta Platforms in a research note on Monday, October 7th. Truist Financial raised their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group raised their target price on Meta Platforms from $635.00 to $690.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Raymond James raised their target price on Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Oppenheimer raised their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $613.46.

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.