Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,419 shares of the social networking company’s stock after selling 50 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Meta Platforms were worth $812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in META. Gradient Investments LLC increased its stake in Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Meta Platforms by 14.0% in the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after acquiring an additional 748,076 shares during the period. Stanley Laman Group Ltd. raised its stake in Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after acquiring an additional 352 shares during the last quarter. Lincoln National Corp lifted its position in Meta Platforms by 7.8% during the 1st quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after acquiring an additional 2,504 shares during the period. Finally, BCGM Wealth Management LLC grew its stake in Meta Platforms by 5.3% during the 1st quarter. BCGM Wealth Management LLC now owns 1,311 shares of the social networking company’s stock valued at $637,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.0 %

Shares of META stock opened at $573.25 on Friday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 29.26, a PEG ratio of 1.42 and a beta of 1.22. The stock’s fifty day moving average is $551.05 and its two-hundred day moving average is $510.72. 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 results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 earnings per share. Research analysts expect that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 10.21%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on META shares. KeyCorp lifted their target price on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Sanford C. Bernstein lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday. DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Citigroup raised their target price on shares of Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $621.63.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $6,315,852.40. This 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 link. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,817 shares of company stock worth $132,547,715 in the last 90 days. Insiders own 13.71% of the company’s stock.

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.