Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Lessened by TCW Group Inc.

TCW Group Inc. lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 555,726 shares of the social networking company’s stock after selling 5,558 shares during the quarter. Meta Platforms makes up about 2.8% of TCW Group Inc.’s portfolio, making the stock its 6th biggest holding. TCW Group Inc.’s holdings in Meta Platforms were worth $318,120,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the 3rd quarter worth approximately $36,000. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Finally, Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter worth approximately $46,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.9 %

Shares of NASDAQ:META opened at $619.32 on Wednesday. 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 has a 50 day simple moving average of $581.32 and a 200-day simple moving average of $535.09. The company has a market capitalization of $1.56 trillion, a PE ratio of 29.17, a P/E/G ratio of 1.37 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $319.99 and a twelve month high of $629.79.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) 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 the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared 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 is Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total transaction of $486,636.60. Following the completion of the sale, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,201 shares of company stock worth $95,420,559. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on META. Guggenheim raised their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. upped their price target on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. TD Cowen upped 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. Finally, Wells Fargo & Company reduced their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $635.20.

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.