Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Burr Financial Services LLC

Burr Financial Services LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 16.7% during the third quarter, Holdings Channel reports. The fund owned 15,116 shares of the social networking company’s stock after selling 3,033 shares during the quarter. Meta Platforms makes up 6.1% of Burr Financial Services LLC’s holdings, making the stock its 4th largest holding. Burr Financial Services LLC’s holdings in Meta Platforms were worth $8,653,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC grew its stake in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. purchased a new position in Meta Platforms in the third quarter valued at $46,000. Finally, West Financial Advisors LLC acquired a new position in shares of Meta Platforms in the third quarter worth about $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $567.16 on Friday. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.83. The business has a 50-day moving average of $555.99 and a 200 day moving average of $513.12. Meta Platforms, Inc. has a 12 month low of $308.33 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.84 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,993 shares of company stock worth $133,271,982. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on META shares. Monness Crespi & Hardt lifted their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities boosted their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research report on Thursday. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research report on Thursday. Susquehanna lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

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.