MONECO Advisors LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 45.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,803 shares of the social networking company’s stock after selling 4,783 shares during the period. MONECO Advisors LLC’s holdings in Meta Platforms were worth $3,322,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Central Valley Advisors LLC grew its stake in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC lifted its holdings in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its position in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after buying an additional 18 shares during the last quarter. Kozak & Associates Inc. increased its holdings in Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC raised its position in Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after buying an additional 18 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Trading Down 0.1 %
Shares of META opened at $567.16 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $555.99 and a 200 day moving average price of $513.03. Meta Platforms, Inc. has a 12-month low of $308.33 and a 12-month high of $602.95. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 26.72, a P/E/G ratio of 1.44 and a beta of 1.22.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts forecast that Meta Platforms, Inc. will post 21.47 EPS for the current year.
Meta Platforms Dividend Announcement
The company 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 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is presently 9.42%.
Insider Activity at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,993 shares of company stock worth $133,271,982. 13.71% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of analysts have recently weighed in on META shares. Tigress Financial increased their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Citigroup increased their price target on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Morgan Stanley raised their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $634.10.
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.
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