Quent Capital LLC Sells 28 Shares of Meta Platforms, Inc. (NASDAQ:META)

Quent Capital LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,051 shares of the social networking company’s stock after selling 28 shares during the period. Quent Capital LLC’s holdings in Meta Platforms were worth $3,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of META. Central Valley Advisors LLC raised its holdings in shares of 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 worth $3,271,000 after acquiring an additional 18 shares in the last quarter. S.A. Mason LLC raised its stake in Meta Platforms by 1.5% during 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 in the last quarter. Front Row Advisors LLC grew its stake in shares of Meta Platforms by 5.7% in the 2nd quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock worth $187,000 after buying an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN increased 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 worth $513,000 after buying an additional 21 shares during the last quarter. Finally, Northern Capital Management Inc. lifted its holdings in shares of Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after acquiring an additional 21 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 2.3 %

META traded up $13.17 on Friday, hitting $595.94. The company had a trading volume of 14,199,788 shares, compared to its average volume of 15,523,651. The stock has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 1.39 and a beta of 1.22. The stock has a fifty day moving average price of $527.07 and a 200-day moving average price of $502.60. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $596.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

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

Meta Platforms Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend 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 presently 11.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on META. TD Securities upped their price objective on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Guggenheim increased their price target on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Raymond James boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research report on Monday, July 1st. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $598.08.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, 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 in the company, valued at approximately $188,810,838.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold 300,228 shares of company stock valued at $158,005,260 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

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.