David J Yvars Group Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

David J Yvars Group decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,456 shares of the social networking company’s stock after selling 175 shares during the period. David J Yvars Group’s holdings in Meta Platforms were worth $834,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Meta Platforms in the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on META. Morgan Stanley upped their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. KeyCorp upped 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. Truist Financial increased their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have assigned 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Down 0.4 %

Meta Platforms stock opened at $589.34 on Friday. The company has a 50-day simple moving average of $561.78 and a 200-day simple moving average of $516.13. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.

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

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $514.89, for a total value of $8,599,692.78. Following the completion of the transaction, the chief executive officer now owns 89,927 shares of the company’s stock, valued at $46,302,513.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,118 shares of company stock valued at $121,237,935 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

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.