Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 44.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 522 shares of the social networking company’s stock after selling 418 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Meta Platforms were worth $263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. S.A. Mason LLC grew its holdings in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN boosted its holdings in shares of Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the last quarter. Northern Capital Management Inc. grew its stake in shares of Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after buying an additional 21 shares during the period. Buckingham Capital Management Inc. increased its holdings in shares of Meta Platforms by 5.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after buying an additional 21 shares during the last quarter. Finally, LongView Wealth Management raised its position in shares of Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 0.1 %

Shares of NASDAQ:META opened at $567.36 on Friday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $577.40. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.44 trillion, a PE ratio of 32.59, a P/E/G ratio of 1.39 and a beta of 1.21. The company’s 50-day moving average price is $516.19 and its 200 day moving average price is $499.60.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the company posted $3.23 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Upgrades and Downgrades

Several brokerages have commented on META. Wells Fargo & Company upped their price target on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Susquehanna raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Roth Mkm boosted their price objective on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial lifted their target price on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, TD Securities increased their price target on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $591.23.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $569.93, for a total transaction of $5,699,300.00. Following the transaction, the insider now owns 328,662 shares of the company’s stock, valued at approximately $187,314,333.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 342,358 shares of company stock worth $179,431,101. 13.71% of the stock is owned by corporate insiders.

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.