Tacita Capital Inc Sells 77 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tacita Capital Inc decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 423 shares of the social networking company’s stock after selling 77 shares during the period. Tacita Capital Inc’s holdings in Meta Platforms were worth $242,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LS Investment Advisors LLC boosted its stake in Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after purchasing an additional 6,155 shares during the period. Gradient Investments LLC raised its holdings in shares of Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after purchasing an additional 5,953 shares during the period. Cutter & CO Brokerage Inc. grew its stake 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 during the last quarter. Stanley Laman Group Ltd. grew its stake in Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after buying an additional 352 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Meta Platforms by 1.4% in 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 last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.5 %

Shares of META stock opened at $577.16 on Friday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a fifty day moving average of $565.83 and a two-hundred day moving average of $518.72. The firm has a market capitalization of $1.46 trillion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm 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 0.35%. Meta Platforms’s payout ratio is 9.42%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on META. Jefferies Financial Group increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a research report on Wednesday, October 16th. Citigroup raised their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Wedbush restated an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 7,975 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total value of $4,117,971.00. Following the transaction, the chief executive officer now directly owns 531,884 shares in the company, valued at approximately $274,643,622.24. This trade represents a 1.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock valued at $84,533,106 in the last quarter. 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.