Meta Platforms, Inc. (NASDAQ:META) Stake Trimmed by Managed Asset Portfolios LLC

Managed Asset Portfolios LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,221 shares of the social networking company’s stock after selling 202 shares during the period. Meta Platforms comprises approximately 3.9% of Managed Asset Portfolios LLC’s investment portfolio, making the stock its 7th biggest position. Managed Asset Portfolios LLC’s holdings in Meta Platforms were worth $27,604,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of META. Baltimore Washington Financial Advisors Inc. grew its stake in Meta Platforms by 4.1% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 49,657 shares of the social networking company’s stock worth $28,426,000 after purchasing an additional 1,940 shares in the last quarter. MGB Wealth Management LLC grew its holdings in Meta Platforms by 19.2% during the 3rd quarter. MGB Wealth Management LLC now owns 870 shares of the social networking company’s stock worth $498,000 after acquiring an additional 140 shares in the last quarter. Wescott Financial Advisory Group LLC increased its position in Meta Platforms by 1.0% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 2,956 shares of the social networking company’s stock valued at $1,692,000 after purchasing an additional 30 shares during the period. Penserra Capital Management LLC raised its holdings in shares of Meta Platforms by 130.6% in the 3rd quarter. Penserra Capital Management LLC now owns 1,898 shares of the social networking company’s stock valued at $1,085,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Lane & Associates LLC lifted its position in shares of Meta Platforms by 8.3% in the 3rd quarter. Lane & Associates LLC now owns 484 shares of the social networking company’s stock worth $277,000 after purchasing an additional 37 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.1 %

META opened at $565.11 on Tuesday. 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 twelve month low of $313.66 and a twelve month high of $602.95. The company has a market cap of $1.43 trillion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The company has a 50-day moving average price of $573.38 and a 200 day moving average price of $525.35.

Meta Platforms (NASDAQ:META) last released its earnings results 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 the consensus estimate of $40.21 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently commented on META. JMP Securities boosted their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Loop Capital upped their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. Scotiabank decreased their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Finally, Truist Financial raised their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two investment 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 issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $634.71.

Insider Activity

In related news, COO Javier Olivan sold 620 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the transaction, the chief operating officer now directly owns 19,992 shares in the company, valued at approximately $11,135,544. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 7,975 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total value of $4,117,971.00. Following the sale, the chief executive officer now directly owns 531,884 shares of the company’s stock, valued at approximately $274,643,622.24. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,218 shares of company stock worth $65,819,414 over the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms 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.