Invst LLC Has $2.80 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Invst LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,889 shares of the social networking company’s stock after selling 1,206 shares during the quarter. Invst LLC’s holdings in Meta Platforms were worth $2,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Second Line Capital LLC lifted its position in shares of Meta Platforms by 23.5% during the 3rd quarter. Second Line Capital LLC now owns 10,222 shares of the social networking company’s stock valued at $5,852,000 after acquiring an additional 1,948 shares during the period. Soltis Investment Advisors LLC grew its stake in shares of Meta Platforms by 25.0% in the 3rd quarter. Soltis Investment Advisors LLC now owns 21,462 shares of the social networking company’s stock valued at $12,286,000 after buying an additional 4,289 shares during the period. Rehmann Capital Advisory Group increased its position in Meta Platforms by 3.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 11,194 shares of the social networking company’s stock valued at $6,425,000 after buying an additional 359 shares in the last quarter. Main Line Retirement Advisors LLC bought a new position in Meta Platforms in the third quarter worth approximately $236,000. Finally, TD Private Client Wealth LLC grew its stake in Meta Platforms by 3.0% in the third quarter. TD Private Client Wealth LLC now owns 41,392 shares of the social networking company’s stock valued at $23,694,000 after acquiring an additional 1,195 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CEO Mark Zuckerberg sold 22,946 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $621.84, for a total value of $14,268,740.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $520.57, for a total value of $214,995.41. Following the transaction, the chief operating officer now directly owns 13,185 shares of the company’s stock, valued at approximately $6,863,715.45. This trade represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,201 shares of company stock worth $95,420,559. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.9 %

Shares of META opened at $619.32 on Wednesday. Meta Platforms, Inc. has a 1-year low of $319.99 and a 1-year high of $629.79. 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 firm’s 50-day moving average price is $581.32 and its 200-day moving average price is $535.09. The firm has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.17, a PEG ratio of 1.37 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating 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 business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Ratings Changes

META has been the topic of several research reports. DA Davidson assumed coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. TD Cowen raised their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. UBS Group lifted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Sanford C. Bernstein boosted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, KeyCorp raised their target price on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $635.20.

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.