Meta Platforms, Inc. (NASDAQ:META) Stake Lessened by Intrinsic Value Partners LLC

Intrinsic Value Partners LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,199 shares of the social networking company’s stock after selling 19 shares during the period. Meta Platforms comprises about 5.3% of Intrinsic Value Partners LLC’s holdings, making the stock its 4th largest holding. Intrinsic Value Partners LLC’s holdings in Meta Platforms were worth $5,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. Delos Wealth Advisors LLC increased its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% during the 2nd 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 in the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms during the third quarter valued at $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms in the third quarter worth $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.8 %

META stock opened at $580.00 on Thursday. The firm has a fifty day moving average price of $564.48 and a 200 day moving average price of $518.29. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The firm 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 debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $40.21 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on META shares. Monness Crespi & Hardt raised their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. UBS Group lifted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Piper Sandler increased their target price on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was 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 other news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the transaction, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,807 shares of company stock worth $93,851,617 over the last ninety days. Company 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.