Cassia Capital Partners LLC Sells 134 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cassia Capital Partners LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.5% during the third quarter, HoldingsChannel.com reports. The firm owned 1,663 shares of the social networking company’s stock after selling 134 shares during the period. Meta Platforms accounts for 0.6% of Cassia Capital Partners LLC’s portfolio, making the stock its 19th biggest position. Cassia Capital Partners LLC’s holdings in Meta Platforms were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Gradient Investments LLC raised its position in Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Meta Platforms by 14.0% in the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after purchasing an additional 748,076 shares during the last quarter. ERn Financial LLC increased its holdings in shares of Meta Platforms by 59.0% in the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock valued at $802,000 after purchasing an additional 613 shares during the last quarter. Stanley Laman Group Ltd. increased its holdings in shares of Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after purchasing an additional 352 shares during the last quarter. Finally, Lincoln National Corp increased its holdings in shares of Meta Platforms by 7.8% in the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock valued at $16,894,000 after purchasing an additional 2,504 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $582.01 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $547.72 and its two-hundred day simple moving average is $509.22. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The stock has a market cap of $1.48 trillion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.23 EPS. As a group, analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Susquehanna upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Raymond James increased their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. Morgan Stanley increased their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $619.20.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the sale, the chief operating officer now directly owns 11,120 shares in the company, valued at $6,456,828. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the sale, the insider now directly owns 33,292 shares in the company, valued at approximately $19,641,281.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the sale, the chief operating officer now owns 11,120 shares in the company, valued at $6,456,828. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,324 shares of company stock worth $132,218,368 in the last ninety days. Company 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.