Single Point Partners LLC Sells 80 Shares of Meta Platforms, Inc. (NASDAQ:META)

Single Point Partners LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.0% during the third quarter, Holdings Channel reports. The fund owned 724 shares of the social networking company’s stock after selling 80 shares during the period. Meta Platforms comprises about 0.6% of Single Point Partners LLC’s investment portfolio, making the stock its 22nd biggest position. Single Point Partners LLC’s holdings in Meta Platforms were worth $415,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC increased its stake in 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 purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. raised its holdings in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms during the 1st quarter valued at $44,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Bank of America upped their target price on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, September 26th. TD Securities lifted their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Jefferies Financial Group upped their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $598.08.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. Insiders have sold a total of 300,228 shares of company stock worth $158,005,260 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 1.7 %

META opened at $582.77 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $583.36. The firm’s 50 day simple moving average is $524.47 and its two-hundred day simple moving average is $501.92. The company has a market capitalization of $1.48 trillion, a PE ratio of 33.47, a PEG ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.23 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

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.