Meta Platforms, Inc. (NASDAQ:META) Shares Sold by HMS Capital Management LLC

HMS Capital Management LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,747 shares of the social networking company’s stock after selling 43 shares during the quarter. Meta Platforms comprises approximately 1.3% of HMS Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. HMS Capital Management LLC’s holdings in Meta Platforms were worth $2,717,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Gradient Investments LLC grew its stake in shares of Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Stanley Laman Group Ltd. lifted its holdings in Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after purchasing an additional 352 shares during the period. Cutter & CO Brokerage Inc. grew its position in Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after buying an additional 65 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after buying an additional 5,594 shares during the period. Finally, BCGM Wealth Management LLC raised its position in shares of 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 worth $637,000 after buying an additional 66 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $589.34 on Friday. The firm has a market cap of $1.49 trillion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The company’s fifty day moving average is $560.42 and its 200-day moving average is $515.25. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on META. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Oppenheimer increased their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Bank of America boosted their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. DA Davidson started coverage on Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total value of $8,827,174.02. Following the completion of the sale, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at $38,302,705.23. 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 at this link. In related news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the sale, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 228,118 shares of company stock worth $121,237,935 in the last 90 days. 13.71% of the stock is owned by company 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.