Meta Platforms, Inc. (NASDAQ:META) Stock Position Reduced by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,579 shares of the social networking company’s stock after selling 86 shares during the period. Quotient Wealth Partners LLC’s holdings in Meta Platforms were worth $4,339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Modus Advisors LLC boosted its holdings in Meta Platforms by 28.8% during the third quarter. Modus Advisors LLC now owns 3,603 shares of the social networking company’s stock valued at $2,063,000 after acquiring an additional 805 shares during the period. SS&H Financial Advisors Inc. acquired a new stake in Meta Platforms during the third quarter valued at approximately $937,000. Steigerwald Gordon & Koch Inc. boosted its stake in shares of Meta Platforms by 4.3% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,663 shares of the social networking company’s stock valued at $1,525,000 after purchasing an additional 109 shares in the last quarter. Guardian Asset Advisors LLC increased its holdings in shares of Meta Platforms by 17.5% during the third quarter. Guardian Asset Advisors LLC now owns 1,344 shares of the social networking company’s stock worth $770,000 after buying an additional 200 shares in the last quarter. Finally, Cypress Wealth Services LLC raised its position in Meta Platforms by 3.9% in the 3rd quarter. Cypress Wealth Services LLC now owns 4,293 shares of the social networking company’s stock valued at $2,458,000 after purchasing an additional 163 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 266,412 shares of company stock valued at $140,058,708. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.6 %

NASDAQ:META traded down $3.61 on Thursday, reaching $586.90. The company’s stock had a trading volume of 3,040,045 shares, compared to its average volume of 15,372,553. The stock has a 50 day moving average price of $534.36 and a 200 day moving average price of $504.36. The firm has a market cap of $1.49 trillion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.23 EPS. On average, equities analysts anticipate that Meta Platforms, Inc. will post 21.36 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. Investors of record on Monday, September 16th were issued 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 0.34%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wedbush reissued an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their target price on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $660.00 target price on shares of Meta Platforms in a report on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned 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 $608.58.

Meta Platforms Company 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.