Genesee Capital Advisors LLC Lowers Position in Meta Platforms, Inc. (NASDAQ:META)

Genesee Capital Advisors LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,200 shares of the social networking company’s stock after selling 110 shares during the period. Meta Platforms comprises about 0.9% of Genesee Capital Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Genesee Capital Advisors LLC’s holdings in Meta Platforms were worth $1,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bluesphere Advisors LLC lifted its position in shares of Meta Platforms by 42.3% in the third quarter. Bluesphere Advisors LLC now owns 1,406 shares of the social networking company’s stock worth $805,000 after buying an additional 418 shares in the last quarter. Berry Wealth Group LP grew its stake in Meta Platforms by 5.8% in the third quarter. Berry Wealth Group LP now owns 1,342 shares of the social networking company’s stock worth $768,000 after purchasing an additional 74 shares in the last quarter. Toth Financial Advisory Corp lifted its holdings in Meta Platforms by 4.2% during the third quarter. Toth Financial Advisory Corp now owns 1,207 shares of the social networking company’s stock worth $691,000 after buying an additional 49 shares during the period. Wealth Effects LLC lifted its holdings in shares of Meta Platforms by 0.8% during the 3rd quarter. Wealth Effects LLC now owns 11,645 shares of the social networking company’s stock valued at $6,666,000 after purchasing an additional 90 shares during the last quarter. Finally, Castleview Partners LLC lifted its holdings in shares of Meta Platforms by 13.3% during the 3rd quarter. Castleview Partners LLC now owns 914 shares of the social networking company’s stock valued at $523,000 after purchasing an additional 107 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the sale, the chief operating officer now owns 5,559 shares of the company’s stock, valued at $2,573,817. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the sale, the chief operating officer now owns 5,559 shares of the company’s stock, valued at $2,573,817. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 250,324 shares of company stock valued at $132,218,368. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.2 %

Shares of NASDAQ:META opened at $582.01 on Wednesday. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The company’s fifty day moving average is $547.72 and its two-hundred day moving average is $509.22. 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 issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.23 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on META. Roth Mkm increased their price target on Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Barclays increased their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Guggenheim increased their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wolfe Research initiated coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective for the company. Finally, 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 research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $619.20.

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.