Thompson Davis & CO. Inc. Has $828,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Thompson Davis & CO. Inc. reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,446 shares of the social networking company’s stock after selling 50 shares during the quarter. Meta Platforms makes up approximately 0.6% of Thompson Davis & CO. Inc.’s holdings, making the stock its 24th largest holding. Thompson Davis & CO. Inc.’s holdings in Meta Platforms were worth $828,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its stake 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 valued at $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the third quarter worth $46,000. West Financial Advisors LLC acquired a new position in shares of Meta Platforms during the third quarter valued at $49,000. Finally, NewSquare Capital LLC boosted its holdings in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after acquiring an additional 71 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

NASDAQ:META opened at $559.14 on Friday. The stock’s 50-day simple moving average is $572.74 and its 200 day simple moving average is $523.96. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week 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 company has a market cap of $1.41 trillion, a P/E ratio of 26.34, a P/E/G ratio of 1.24 and a beta of 1.22.

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

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BMO Capital Markets increased their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. JMP Securities raised their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Robert W. Baird upped their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Tigress Financial increased their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total transaction of $469,740.25. Following the transaction, the insider now owns 39,627 shares of the company’s stock, valued at $20,568,394.35. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction that occurred on 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 directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,843 shares of company stock worth $92,083,554 in the last ninety days. Insiders own 13.71% of the company’s stock.

About Meta Platforms

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.