Claro Advisors LLC Sells 14,163 Shares of Meta Platforms, Inc. (NASDAQ:META)

Claro Advisors LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 98.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 190 shares of the social networking company’s stock after selling 14,163 shares during the quarter. Claro Advisors LLC’s holdings in Meta Platforms were worth $109,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares in the last quarter. Capital World Investors boosted its position in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC boosted its position in shares of Meta Platforms by 3.1% in the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after purchasing an additional 342,742 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Loop Capital boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Jefferies Financial Group boosted their price target on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wolfe Research assumed coverage on Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. KeyCorp boosted their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Tigress Financial boosted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $617.37.

Insider Activity

In other news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 250,816 shares of company stock worth $132,421,828 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.1 %

Shares of META stock opened at $576.47 on Monday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $1.46 trillion, a PE ratio of 33.11, a PEG ratio of 1.45 and a beta of 1.22. The stock has a fifty day simple moving average of $546.53 and a two-hundred day simple moving average of $508.77.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 earnings per share. On average, analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend 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 11.49%.

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.