In Depth Partners LLC Has $10.90 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

In Depth Partners LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 13.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,045 shares of the social networking company’s stock after selling 2,910 shares during the period. Meta Platforms makes up approximately 11.3% of In Depth Partners LLC’s investment portfolio, making the stock its 3rd largest position. In Depth Partners LLC’s holdings in Meta Platforms were worth $10,902,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cullinan Associates Inc. raised its stake in Meta Platforms by 47.2% in the second quarter. Cullinan Associates Inc. now owns 26,963 shares of the social networking company’s stock valued at $13,595,000 after purchasing an additional 8,647 shares in the last quarter. Albion Financial Group UT lifted its holdings in shares of Meta Platforms by 9.3% during the 2nd quarter. Albion Financial Group UT now owns 1,122 shares of the social networking company’s stock worth $566,000 after acquiring an additional 95 shares during the period. NBC Securities Inc. boosted its position in shares of Meta Platforms by 7.6% during the 2nd quarter. NBC Securities Inc. now owns 7,432 shares of the social networking company’s stock worth $3,747,000 after acquiring an additional 525 shares in the last quarter. Greenfield Savings Bank increased its stake in Meta Platforms by 1.1% in the second quarter. Greenfield Savings Bank now owns 5,897 shares of the social networking company’s stock valued at $2,973,000 after acquiring an additional 65 shares during the last quarter. Finally, Northside Capital Management LLC raised its position in Meta Platforms by 4.7% during the second quarter. Northside Capital Management LLC now owns 420,646 shares of the social networking company’s stock valued at $212,098,000 after purchasing an additional 18,852 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the sale, the insider now directly owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. The trade was a 5.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,334 shares of company stock worth $59,210,941 in the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 0.3 %

Meta Platforms stock traded up $1.50 during mid-day trading on Tuesday, hitting $594.33. 1,022,314 shares of the stock were exchanged, compared to its average volume of 14,804,930. The firm’s fifty day simple moving average is $575.21 and its two-hundred day simple moving average is $528.08. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 27.92, a PEG ratio of 1.27 and a beta of 1.20. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last released 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. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on META shares. Truist Financial raised their target price on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup lifted their target price on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. TD Cowen increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. UBS Group lifted their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Bank of America increased their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $634.71.

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.