Meta Platforms, Inc. (NASDAQ:META) Stake Cut by Advantage Trust Co

Advantage Trust Co decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 50.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200 shares of the social networking company’s stock after selling 200 shares during the period. Advantage Trust Co’s holdings in Meta Platforms were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Meta Platforms during the second quarter valued at $595,152,000. Vanguard Group Inc. raised its stake in shares of Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Meta Platforms by 30.0% in the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock worth $1,656,318,000 after purchasing an additional 788,131 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 0.8 %

Shares of META stock opened at $580.00 on Thursday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a market cap of $1.46 trillion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $564.48 and its two-hundred day moving average is $518.29.

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

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 (DPR) is presently 9.42%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Susquehanna upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Roth Mkm upped their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Finally, DA Davidson began coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. Two investment 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 given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now directly owns 41,437 shares of the company’s stock, valued at $22,053,185.77. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were 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. Insiders have sold 175,807 shares of company stock worth $93,851,617 over the last 90 days. Corporate 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.